Governor of the State Bank of Pakistan (SBP), Jameel Ahmad, has announced a major improvement in the country’s economic condition. He said inflation in fiscal year 2025 has dropped to its lowest point in the last nine years. He credited strong monetary and fiscal strategies for this progress.
Speaking at the launch of the Women’s Financial Inclusion initiative under the WeFinance Code, Jameel Ahmad shared updates on Pakistan’s economic recovery. He said the balance in external accounts has strengthened the foreign exchange market. He highlighted that both exports and remittances played a key role in producing a current account surplus.
“Our foreign exchange reserves are now over 14 billion dollars,” the SBP chief said. “The financial policy has supported the monetary policy well. Together, they have revived the economy and set it on a path of sustainable growth.”
He noted that private sector activity is growing. As a result, competition and product quality are improving in Pakistan. He stressed that long-term economic success depends on consistent macroeconomic stability.
At the same event, the SBP Governor expressed gratitude to the Asian Development Bank for its support of the WeFinance Code. He said the SBP is committed to pushing the financial participation of women as part of a larger plan to build a sustainable economy.
“We must not fall back into old habits,” Jameel Ahmad warned. “This is the time to move toward a better and lasting economic future.”
The SBP introduced the WeFinance Code to encourage access to finance for women. It aims to help reduce the gender gap in the banking sector. Governor Jameel Ahmad, Deputy Governor Saleem Ullah, and Asian Development Bank officials attended the event.
Deputy Governor Saleem Ullah revealed a clear target. The SBP aims to raise women’s financial inclusion to 25 percent by 2028 under its Financial Inclusion Strategy. He pointed out that SBP’s efforts have already increased overall banking inclusion in Pakistan from 16 percent to 67 percent.
Still, he noted major gaps remain. Half of the women in the country have no bank accounts. Only 2 percent of them currently receive loans from banks. These figures reflect the need for urgent action in promoting female economic access.
Saleem Ullah confirmed that 20 banks have already agreed to sign the WeFinance Code. Their commitment is expected to expand gender-inclusive finance and improve banking services for women across Pakistan.