Karachi: State Bank of Pakistan (SBP) Governor Dr Reza Baqir has stated that the toughest phase of economic stabilisation is now over and the country’s business sector has a bright future – a news source reported.
He was speaking at the ‘CEO Summit Asia 2020’ organised by CEO Club Pakistan and Management House. He further stated that there were signs of a turnaround in January numbers as sales of cement, imports of machinery, and large-scale manufacturing all witnessed an uptick.
‘It can be said with confidence that the worst is behind us,’ he said. At the same time, he emphasised the need for reforms in the public sector to stimulate growth in the private sector.
He added that the central bank would ensure that small and
medium-sized enterprises (SMEs) get the financing from banks. He also urged
that the country’s chambers of commerce and industry to play a role in the
promotion of SMEs.
