DUBAI: Dr Reza Baqir, Governor State Bank of Pakistan (SBP), emphasized that real economic activity is expected to revive soon on the back of recent economic reforms initiated by SBP and the Government. These comments were made at a session hosted in the UAE by Bank Alfalah, with attendees representing leading financial institutions based in the region.
Dr Baqir further stated that adopting a market
based exchange rate and monetary policy aimed at bringing down inflation were
the key steps towards stabilization in the economy and ensuring economic
progress in its next stage. This was corroborated by the recent growth in
portfolio investments which reflected the investors’ confidence.
The interactive session focused on
understanding the economic outlook for Pakistan and the financial sector as a
Speaking at the occasion, Mr. Ali Sultan,
Group Head of Treasury and Capital Markets at Bank Alfalah, said that leading
institutional investors in UAE found the interaction with Governor SBP very
productive, as the Governor provided a fresh perspective on reforms and
economic policies of the government.
Adding further, he said that we are pleased with the direction and
vision established by the State Bank and look forward to closer collaboration
between Bank Alfalah and all stakeholders to promote economic development
across our operational territory.