The Governor of the State Bank of Pakistan (SBP) has assured the public that there is no shortage of dollars to support the country’s import needs. Addressing concerns about foreign exchange reserves, the governor emphasized the central bank’s commitment to maintaining economic stability and facilitating essential imports.

Strong Position on Dollar Reserves

During a recent media briefing, the SBP Governor highlighted that Pakistan’s dollar reserves are sufficient to meet its import requirements. He dismissed rumors of a dollar shortage, stating, “There is no dearth of dollars for imports. The State Bank is actively managing foreign exchange reserves to ensure uninterrupted trade and economic activity.”

Support for Key Sectors

The central bank is prioritizing sectors critical to the country’s economy, including energy, agriculture, and industrial inputs. The governor reassured stakeholders that foreign exchange allocations are being handled efficiently to avoid disruptions in the supply chain.

Addressing Speculation

The governor also criticized speculative activities in the currency market, urging businesses and the public to rely on factual information. He stated, “Misleading narratives about dollar shortages only create unnecessary panic. The central bank is fully equipped to handle the situation.”

Economic Stability Measures

The SBP has implemented several measures to stabilize the economy, including:

  • Streamlining import documentation to avoid delays.
  • Monitoring exchange rate fluctuations closely.
  • Coordinating with the government to boost foreign direct investment (FDI) and remittances.

Economist Dr. Ayesha Siddiqui praised the central bank’s proactive approach, noting, “The assurance from the SBP Governor is crucial for maintaining confidence among investors and importers.”

Public and Industry Response

Businesses and industry leaders have welcomed the statement, expressing relief over the central bank’s commitment to ensuring smooth operations. A Karachi-based importer remarked, “The clarity from the SBP Governor is reassuring. It’s essential for the central bank to maintain transparency during these times.”