KARACHI: State Bank Governor Jameel Ahmed has said that the country’s economy is on the way to recovery despite global fluctuations.
Addressing as Chief Guest at the convocation of ICMA Pakistan at a local hotel in Karachi, Jameel Ahmed, Governor of Bank Daulat Pakistan, has said that as a result of the strong determination of the government and the State Bank to deal with macroeconomic challenges, the economy has improved. There has been significant improvement.
The governor said that apart from the environment, there is a need to analyze where our economy stands and in which direction it is headed. A year ago, Pakistan was facing a very difficult macroeconomic environment, the inflation rate had reached 38%. The foreign exchange reserves were decreasing rapidly, but today inflation is decreasing rapidly, our reserves have increased to about 8 billion dollars, although we are repaying huge loans, these reserves will cross the level of 9 billion dollars, the stock market. is also going to new heights.
Referring to the recent economic improvement of Pakistan, the governor said that this progress was made possible by the strong commitment of the government and the State Bank to effectively deal with the macroeconomic challenges. Emphasizing the need for new perspectives and innovative solutions, this new perspective and innovative thinking has become even more necessary as the global shocks our economy faces are becoming ever more complex.
He said that climate change, technological advancement, cyber security threats and financial innovation are adding new dimensions to threats to economic and financial stability.Finally, the Governor advised the graduates to be aware of Pakistan’s economic landscape. Work towards formation with dedication, hard work and unwavering commitment.
Earlier ICMA Pakistan President Shahzad Ahmad Malik in his welcome speech warmly welcomed Governor State Bank Jameel Ahmed, Deputy Governor Dr. Inayat Hussain and Deputy Governor Salimullah for accepting the invitation to participate in the convocation.
