State Bank Governor Jameel Ahmad highlighted that the government’s local borrowing stands at 45%, which is not significantly higher compared to regional nations like Sri Lanka at 68% and India at 42%. He noted that other countries have been increasing private sector lending,. While providing an update on Pakistan’s economic situation, he revealed that foreign exchange reserves have surpassed $12 billion, the current account deficit stood at $17.5 billion, or 4% of GDP, but recent regulatory actions have stabilised the economy, and the current account is now in a surplus of $200 million. He further stated that external accounts remained in surplus in November and despite the economic challenges, the banking industry has played a crucial role in supporting the economy. The governor urged banks to improve their business models and adopt better use of technology during a speech at the Banking Awards ceremony. He stressed the importance of increasing financial inclusion as Pakistan lags behind in terms of advanced and deposit ratios compared to other countries in the region.