Pakistan’s economic managers on Wednesday noted rising international commodity prices, higher import bill and current account deficit (CAD) as key risks to macroeconomic outlook and decided to have closer coordination and vigilance for policy adjustments to support higher growth.
At a meeting of the Monetary and Fiscal Policies Coordination Board (MFPCB) presided over by Finance Minister Shaukat Tarin, State Bank of Pakistan Governor Dr Reza Baqir pointed out that the increase in commodities prices in the global market would have implications for higher import bill and inflation.
The finance minister asked “for designing and executing policies to achieve economic targets and overcome the possible risks” and advised to MFPCB more effective for maintaining better coordination of policies to achieve the planned macroeconomic goal.
Other members of the board present in the meeting were the Adviser to the PM on Commerce & Investment Abdul Razak Dawood, Deputy Chairman Planning Commission (PC) Dr Jehanzaib Khan and Private Member Dr Asad Zaman.
