Global competitiveness key to breaking Pakistan’s boom-bust cycle, says SBP chief

Governor State Bank of Pakistan (SBP), Jameel Ahmad, has emphasised the urgent need for Pakistan to transition from short-lived stabilisation efforts to a durable, sustainable, and outward-looking growth model. Speaking at the opening session of the Pakistan Business Council’s (PBC) ‘Dialogue on the Economy,’ on Wednesday, Ahmad highlighted that while Pakistan has repeatedly cycled through phases of growth followed by painful stabilisation, this moment presents a genuine opportunity for long-term transformation, provided policy continuity and private sector adaptability remain at the forefront. The central bank chief outlined why the current stabilisation phase stands apart from previous cycles. He noted that macroeconomic discipline is now underpinned by well-coordinated and forward-looking monetary and fiscal policies, avoiding the premature easing that historically undermined stability.