Karachi: It was earlier when Imran Khan has mentioned the economic stability of Pakistan. The country is making progress economically. Now Governor, State Bank of Pakistan (SBP), Dr. Reza Baqir on Monday has passed a similar statement.
He has mentioned that the country has now obtained its economic stability. This is indeed good news showing a positive signal towards prosperity.
During a media talk at SBP Building, he stated that “Uncertainty and instability was a serious challenge to the country, which is now over as the economic team tackled the situation very effectively. Pakistan’s future is bright.”
Improvement and change are two crucial steps in the life of a man. Dr. Reza Baqir mentioned the need for economic stability and how it can affect the overall progress of the region.
The current government is keen on clearing all the economic issues. It is very necessary to bring the economy of the country in a stable condition.
He mentioned that “The two main reasons for the economic instability were: external deficit and fiscal deficit. Now, these were being addressed effectively and in a credible manner.”
The decision of the government of Pakistan for not borrowing from the State bank of Pakistan was a wise one.
He further mentioned that the state bank had to work for three objectives,
- Financial Stability,
- Maintaining Exchange Rate
- Sustained Economic Growth