The reformed trio

Pakistan's nationalised banks are being privatised and are providing better service. They are also mounting a strong challenge to foreign banks.

Even though Pakistan's economy remains tangled in a web of low industrial activity, slack domestic investment and low GDP growth, structural reform is beginning to show results in some areas. The bloated and politicised nationalised banking industry has long been a drag on the financial sector and the economy as a whole but the effects of aggressive restructuring during the last two years are now making themselves felt in the broader economy. Indeed the financial sector as a whole has undergone a process of streamlining and consolidation, which promises to yield substantive macroeconomic gains in the future.

Loading content, please wait...
Himal Southasian