Improving Security Has A Positive Impact on Economic Activities
Deputy Governor State Bank of Pakistan, Mr. Jameel Ahmad, while appreciating the reviving economic activities in the country, has lauded the impact of improved security conditions, attributed much to the operation Zarb-e-Azb and the on-going operation Radd-ul-Fasaad.
“A marked turnaround in retail sales has been observed in metropolises, with positive readings in investor and consumer confidence surveys,” said the Deputy Governor.
He was addressing a delegation of National Security and War Course 2017 led by Air Commodore Aamir Bashir that visited State Bank of Pakistan. The delegation consisted of more than 200 officers including Pakistan Armed Forces officers, Grade 20 CSS officers and senior military officers from friendly countries.
Deputy Governor SBP, Jameel Ahmad, further stated that their inland study tour of SBP will offer them an insight into the workings of Pakistan’s central bank and understanding of monetary policy issues. The keynote address of the Deputy Governor covered several themes.
He explained that being the central bank of a developing country, State Bank of Pakistan has also assigned itself an important developmental role.
Given the socio-economic indicators of the country, coupled with low level of financial inclusion, SBP has been aggressively promoting financing to under-served sectors of the economy like farmers; micro, small and medium enterprises; and also faith-sensitive clients who do not intend to bank with conventional institutions.
Dr. Omar Farooq Saqib, Director, Economic Policy Review Department, SBP delivered a detailed presentation on SBP Functions and Monetary Policy. He outlined the functions of the SBP, Monetary Policy, and Current Economic Conditions and Policy Challenges. He also responded to the queries of the audience.
It may be recalled here that a delegation of National Security and War Course 2016 had also visited State Bank of Pakistan in November, 2016.
In the end, Air Commodore Aamir Bashir thanked the Deputy Governor for providing the opportunity for learning to the course participants.