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Finance ministers announce adjustments to fiscal and monetary policies essential for sustainable economic growth
ISLAMABAD (Web Desk) – Finance and Revenue Minister Senator Mohammad Ishaq Dar said coordination of fiscal and monetary policies is essential for sustainable and effective economic growth.
He was speaking with Pakistani governor Jameel Ahmad, who visited him in Islamabad on Saturday.
The Finance Ministers shared the fiscal measures being implemented to revitalize the country’s economy.
He praised the bank’s initiative in 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 National Bank of Pakistan in stabilizing the country’s currency and economic growth.
The meeting discussed the measures being taken to stabilize and grow the country’s economy.
On the occasion, the Governor of the State Bank congratulated the Finance Minister on his appointment and said the arrival of the Finance Minister had significantly improved market sentiment as reflected in the rupee’s appreciation.
He was of the view that continued efforts by governments and banks would further strain those who were manipulating the foreign exchange market.
The SBP Governor informed Finance Ministers of various macroeconomic policy initiatives in line with fiscal policy objectives taken to achieve sustainable growth. He said the bank was fully committed to supporting the process of economic revitalization in accordance with the policies of the current government, and assured the finance minister of his full support.
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