State Bank of Pakistan (SBP) Governor Jameel Ahmad affirmed the central bank’s dedication to structural reforms for sustainable and inclusive economic expansion at the launch of the Women Entrepreneurs Finance Code in Karachi.

The event, co-hosted by SBP and the Asian Development Bank (ADB), drew national and international figures who championed women”s economic empowerment in Pakistan. In his address, Governor Ahmad reiterated the SBP and government”s shared commitment to transitioning from recent economic stability to medium-term transformation. This commitment is evident in the country”s cautious monetary policy, fundamentally aligned exchange rate, ongoing fiscal consolidation, and improving debt dynamics, all contributing to macroeconomic stability, stronger financial reserves, and sustainable growth.

The focus is now shifting towards structural reforms, marking a departure from past economic cycles. Governor Ahmad highlighted several factors supporting this shift: a nine-year low average inflation rate of 4.5% in FY25, projected to stabilize within the 5-7% target range; stable foreign exchange markets bolstered by robust external accounts and significantly increased FX reserves; a positive current account balance sustained by strong remittances and exports; and two consecutive primary surpluses in FY25, supported by growth in both tax and non-tax revenue.

Unlike previous boom-and-bust periods, current policies favor sustained economic activity. Emphasizing the importance of inclusive growth, Governor Ahmad championed women entrepreneurs as drivers of economic and social progress. Supporting women-owned micro, small, and medium enterprises (WMSMEs) aligns with the SBP”s vision for an inclusive financial ecosystem. He also acknowledged the ADB”s support for women”s financial inclusion in Pakistan and its role in the Code”s adoption.

SBP Deputy Governor Saleemullah highlighted initiatives like the National Financial Inclusion Strategy (NFIS) and the Banking on Equality Policy (BOE), which integrates a gender perspective into banking practices. ADB Senior Director Christine Engstrom and World Bank”s Wendy Teleki, Head of the Women Entrepreneurs Finance Initiative, welcomed SBP as a global signatory to the Code. Panel discussions with policymakers, financial leaders, entrepreneurs, and civil society representatives explored collaborative approaches to advancing women”s entrepreneurship in Pakistan.