SBP, Finance Ministry unite to boost workers' remittances, foreign exchange

MG News | December 31, 2024 at 02:27 PM GMT+05:00

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December 31, 2024 (MLN): The Finance Ministry and the State Bank of Pakistan (SBP) aim to strengthen collaboration to achieve economic stability and sustainable growth, with a focus on increasing workers' remittances to boost foreign exchange inflows.

The aforementioned discussion was held during the meeting between the Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, and Jameel Ahmad, Governor of the State Bank of Pakistan, at the Finance Division.

Jameel Ahmad outlined the efforts to stabilize the exchange rate and bolster foreign reserves, as per the press release issued today.

The overall performance of the banking sector and its significant contributions to the economy were also discussed, with both sides recognizing the sector's pivotal role in supporting economic growth.

During the meeting, Governor Ahmad provided a comprehensive year-end review of the ongoing and planned initiatives aimed at strengthening Pakistan's fiscal framework.

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