Long-term yields I will now talk a bit about an issue that is of direct relevance to actuaries. Is the government bond rate still the appropriate risk-free yield? Is it lower now than it used to be and will it stay there? On the first question, in my opinion, the answer is still yes.
It is my pleasant duty and distinct privilege to welcome you all to the 70th anniversary of the establishment of State Bank of Pakistan. On the auspicious occasion of the opening of the SBP on July 1st, 1948, the Quaid said: “The opening of State Bank of Pakistan symbolizes the sovereignty of our state in the financial sphere.