Karachi: Commenting on the State Bank of Pakistan’s latest economic briefing, Ahmed Chinoy, H.I., S.I., Chairman, Pakistan Cloth Merchants Association (PCMA) and Chairman, United Business Group (UBG) Karachi, said “The State Bank’s latest economic assessment reflects encouraging progress towards macroeconomic stability and renewed business confidence. The projected 4% GDP growth for FY27, supported by an average 6% growth in Large-Scale Manufacturing (LSM) during FY26, signals that economic activity is steadily gaining momentum.
The strengthening of Pakistan’s external sector is particularly noteworthy. Foreign exchange reserves have increased to US$18.4 billion, while workers’ remittances are expected to exceed US$41.5 billion in FY26. Furthermore, the current account is projected to remain in surplus within the 0–1% of GDP range, demonstrating improved external resilience and prudent economic management.
Although inflation accelerated to 11.1% in June 2026 following adjustments in petroleum prices, the average inflation rate of 7.04% for FY26 indicates that overall price stability has remained broadly in line with the State Bank’s medium-term objectives.
These are positive developments for the business community and investors. However, sustaining this momentum will require continued fiscal discipline, structural reforms, export-led growth, greater industrial productivity, and policies that encourage private sector investment. With consistency in economic policymaking and a sustained reform agenda, Pakistan is well-positioned to strengthen investor confidence and achieve inclusive, sustainable economic growth.”
