Shamshad Akhtar: Economic transformation of Pakistan Address by Dr Shamshad Akhtar, Governor of the State Bank of Pakistan, at the US Chamber of Commerce, Washington DC, 20 April 2006. *  *  *  Abstracting from year to year changes, structural changes in Pakistan’s economy have been significant and across the board.
Most remarkably, inflation has remained subdued in the face of labor markets tighter than any we have experienced in a generation. While there are various competing explanations for an economy that is in many respects without precedent in our annals, the most compelling appears to be the extraordinary surge in technological innovation that developed through the latter decades of the last century.