KARACHI:

The State Bank of Pakistan (SBP), in its latest Monetary Policy Report titled "Staying the Course", said that while macroeconomic conditions have improved in recent quarters, significant risks still cloud the outlook. Stubborn inflation, external vulnerabilities, and deep-rooted structural constraints will require sustained reforms and prudent policymaking to ensure stability.

Domestically, the SBP underscored persistent structural weaknesses limiting growth potential. Drawing on its Half Yearly Report for 2024-25, it cited low productivity, weak innovation, poor skills investment, and inefficiencies in industrial processes as major hurdles to competitiveness.

Labour market monitoring is another challenge. Pakistan's official labour force statistics are released only annually a

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