SBP governor addresses financial literacy drive; shares economic outlook

KARACHI: The State Bank of Pakistan (SBP) has launched a financial literacy program, to promote better understanding of finance and investment among the general public. SBP Governor Jameel Ahmad addressed the inaugural ceremony of the ‘Pakistan Financial Literacy Week 2025’ at the National Institute of Banking and Finance (NIBAF).

Heads of international financial institutions also participated in the ceremony. The SBP governor spoke on the need of such financial literacy programs calling them a ‘welcome’ move.

FinMin Aurangzeb vows to address traders’ concerns

The SBP Chief said, “We have several initiatives designed to empower youth and women. The world is working on financial literacy, which is improving the economy. Efforts are being made to reduce financial gaps at the national level.”

“A total of 64 per cent of adults now have accounts,” he said, adding that the central bank is spreading awareness in this regard. “Women teachers in Balochistan were also made aware of this. Information was given about Asaan Account and Asaan Digital Account. They were provided with easy ways to open accounts.”

“We have several initiatives designed to empower youth and women. The world is working on financial literacy, which is improving the economy. Efforts are being made to reduce financial gaps at the national level,” he said.

The SBP Governor said that financial literacy has been made a priority for the next five years. “We are also working to promote it through e-education. Financial education is a national responsibility, and we also have to focus on education. We are working with the Ministry of Education to promote it.”

He also shed light on the current economic outlook of Pakistan, saying that inflation was a problem in 2022 but it is gradually decreasing. “The rate of inflation has decreased as expected by the Monetary Policy Committee,” he said.

Govt aims to push exports to $100 billion within 8 years

“We have to work together with the corporate sector,” Jameel Ahmad said, adding that foreign exchange reserves are good now but there is a need to improve further.

“The exchange rate [against the USD] is decreasing in terms of market value,” SBP Governor said, adding, “We have taken tough decisions. Imports have been reduced to a sufficient extent. Over 11,000 delays and other issues related to LCs and imports have also been resolved.”

The SBP chief said that the current account was also seen moving towards surplus, and this year “the current account has been in surplus of $7 million”.