3 There is, however, a fundamental difference between the roles played by the ECB in the attainment of these objectives: while the ECB has at its disposal the key instruments and powers needed to maintain price stability over the medium term and therefore to fulfil this mandate, it does not have the instruments and powers necessary to ensure financial stability and financial efficiency.
The State Bank would be glad to share the details of the legal, structural, prudential and administrative changes that Pakistan has undertaken in the last five years to reach this stage of stability in the banking and the financial sector of the country.