State Bank of Pakistan Governor Jameel Ahmad on Tuesday expressed his determination to address the issue of inflation and outlined a target of curbing it to a range of 5-7 percent over the course of the next two years.
Speaking at the inauguration ceremony of revealing the new banknote to celebrate 75 years of SBP’s founding, the SBP chief acknowledged the challenges faced by the central bank over the past 75 years, emphasizing the resilience and determination that have guided the institution through difficult times.
He proudly highlighted that the foundation stone of the State Bank was laid by Quaid-e-Azam, further underscoring the historical significance of the occasion.
Speaking on the progress made by the SBP, Governor Ahmad highlighted the expansive reach of the institution, with over 16,000 branches operating nationwide. He lauded the introduction of digital banking facilities, allowing customers to effortlessly open and manage their accounts from the comfort of their homes.
The governor also expressed satisfaction with the extensive services offered to overseas Pakistanis, enabling them to access convenient banking solutions.
Mr Jameel emphasised the State Bank’s dedication to financial stability, asserting that the current legislation aligns with international standards, making the SBP’s framework comparable to any central bank in the world.
He underscored the institution’s efforts to improve efficiency through automation, with special attention given to technological advancements.
In his concluding remarks, Governor Jameel Ahmad outlined the SBP’s ambitious goals, particularly regarding inflation control. He set a target to curb inflation within a range of 5-7 percent over the next two years.
