The State Bank of Pakistan (SBP) governor emphasized that improving global competitiveness is crucial for sustainable economic growth. He stated that global competitiveness key to breaking Pakistan’s boom-bust cycle, says SBP chief, highlighting the need for structural reforms and innovation-driven growth.
During a public address, the SBP chief noted that Pakistan’s economy has faced recurring cycles of rapid growth followed by sharp slowdowns. He stressed that enhancing productivity, improving governance, and attracting foreign investment are critical to stabilizing economic performance.
The statement that global competitiveness key to breaking Pakistan’s boom-bust cycle, says SBP chief underscores the importance of adopting international best practices in trade, industry, and finance. Officials said that Pakistan must focus on upgrading its workforce, technology adoption, and regulatory frameworks to compete globally.
The SBP governor also mentioned that monetary policy alone cannot ensure long-term stability. He called for coordinated efforts across government, private sector, and civil society to improve efficiency and reduce vulnerabilities in key sectors. Economic experts believe that global integration and competitiveness will help Pakistan avoid recurring economic shocks.
He added that boosting exports, improving infrastructure, and supporting small and medium enterprises are essential steps. The repeated point that global competitiveness key to breaking Pakistan’s boom-bust cycle, says SBP chief reflects the central role of competitiveness in achieving sustainable growth.
In conclusion, the SBP chief urged policymakers and businesses to prioritize reforms that enhance productivity and innovation. By focusing on global competitiveness, Pakistan can create a more resilient economy capable of withstanding external shocks and fostering long-term prosperity.
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