Dar terms fiscal, monetary policy coordination vital for sustainable economic growth

ISLAMABAD, Oct 01 (NNI): 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.
Finance Minster Ishaq Dar shared about fiscal measures being undertaken for economic revival of the country. He stressed that fiscal and monetary policy coordination is imperative for sustainable and effective economic growth.
The meeting discussed the measures being undertaken for the stabilization and growth of the country’s economy.
Governor SBP Mr. Jameel Ahmad 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. 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 on different macroeconomic policy initiatives in line with the objectives of fiscal policy taken to achieve sustainable growth. He said that SBP is fully committed to support the process of economic revival as per the policies of the present government and assured the Finance Minister of his full support.
The Finance Minister commended the initiatives of the SBP on introducing digital banking in line with international best practices and Pakistan’s first Instant Payment System- Raast. He also appreciated the role of the State Bank of Pakistan for the monetary stability and economic growth of the country. NNI