Reshaping Pakistan's Growth: A Call for Economic Overhaul

Pakistan’s central bank chief urges a shift in economic policy as the current growth model cannot support 250 million people. Jameel Ahmad highlights declining growth trends, high unemployment, and poverty rates, advocating for long-term structural reforms and sustainable growth strategies to ensure socio-economic prosperity.

In a stark assessment of Pakistan's current economic trajectory, the Governor of the State Bank of Pakistan, Jameel Ahmad, has sounded the alarm on the unsustainability of the country's growth model.

Speaking at the Pakistan Business Council's 'Dialogue on the Economy', Ahmad pointed to a persistent decline in economic growth and warned that existing policies cannot support a population of over 250 million. This comes amidst heightened unemployment and poverty rates, with the jobless rate hitting a 21-year high.

Ahmad insists on rethinking the country's economic approach, pressing policymakers and businesses to adopt a long-term vision. Structural issues need addressing through reforms, and the private sector must prioritize long-term gains over fleeting short-term profits to achieve lasting socio-economic development.

(With inputs from agencies.)