Finance Minister terms fiscal, monetary policy coordination vital for sustainable economic growth

The Nation  |  Oct 01, 2022

Minister for Finance and Revenue Senator Mohammad Ishaq Dar has termed coordination between fiscal and monetary policy as imperative for sustainable and effective economic growth.

He was talking to Governor State Bank of Pakistan Jameel Ahmad, who called on him in Islamabad on Saturday.  

The Finance Minister shared about fiscal measures being undertaken for the economic revival of the country.

He commended the initiatives of the bank regarding introducing digital banking in line with international best practices and Pakistan’s first Instant Payment System- Raast.  The Finance Minister also appreciated the role of the State Bank of Pakistan in the monetary stability and economic growth of the country.

The meeting discussed the measures being undertaken for the stabilization and growth of the country’s economy.

Speaking on the occasion, Governor State Bank extended felicitations to the Finance Minister on assuming the office and stated that with the arrival of the Finance Minister, the market sentiments have considerably improved as reflected in the appreciation of the rupee.

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He was of the view that continuing efforts by the government and the Bank will further put a squeeze on those who were manipulating the foreign exchange market. 

The Governor SBP apprised the Finance Minister of different macroeconomic policy initiatives in line with the objectives of fiscal policy taken to achieve sustainable growth. He said that the bank is fully committed to supporting the process of economic revival as per the policies of the present government and assured the Finance Minister of his full support.

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