KARACHI: Governor of the State Bank of Pakistan (SBP), Jameel Ahmed, announced on Monday that the country’s foreign exchange reserves are expected to climb to $14 billion by June 2025.
Speaking at the Pakistan Stock Exchange (PSX), the SBP chief highlighted a significant increase in remittances, projected to hit a record $38 billion by the end of the current fiscal year. He noted a 33% rise in remittances during the first nine months of FY2024–25.
The central bank expects continued improvement in current and external accounts, while also noting a decline in inflationary pressures.
Meanwhile, Finance Minister Muhammad Aurangzeb acknowledged on Saturday that the recent drop in inflation hasn’t yet translated into relief for the general public. He said the government is actively working to monitor and control prices of essential items such as pulses, sugar, and other commodities.
The minister emphasized the need for economic reforms, including efforts to raise the tax-to-GDP ratio to 13.5%. Addressing concerns of the salaried class, he announced that the Federal Board of Revenue (FBR) will soon simplify tax forms, making them easier to complete — even from mobile phones.
