SBP chief sees GDP expanding 3.25-4.25pc

The State Bank of Pakistan (SBP) has projected GDP growth between 3.25 and 4.25 per cent for FY26, based on improved macroeconomic indicators. However, the textile sector has warned that high production costs and policy constraints are undermining its global competitiveness, despite the improving economic outlook. Speaking at the annual meeting of the Pakistan Textile Council (PTC) on Tuesday, SBP Governor Jameel Ahmed highlighted key indicators supporting the growth forecast. These include a current account surplus in FY25, record remittances of $38bn, and a rise in SBP’s foreign exchange reserves to $14.5bn — bolstered by $7.8bn in purchases from the interbank market.