LAHORE: The government should incorporate evidence-based and inclusive fiscal-monetary policy to achieve the sustainable development goals target.
“The government departments dealing with [the] monetary and fiscal sides of [the] economy should incorporate better coordination mechanisms. This can be carried out by inclusion of social implications in the monetary policy decision making by the State Bank of Pakistan,” speakers said at a roundtable, organised by the Sustainable Development Policy Institute (SDPI) in collaboration with the Government College University (GCU) on Wednesday.
The seminar was titled, “Understanding Social Implications of Monetary Policy in Pakistan”.
Dr Sajid Amin Javed said the monetary policy should be treated as the public policy, which was equally relevant and important for the masses such as managers and businesses.
The central bank should be held accountable on its core functions of inflation and foreign exchange stability. “Inclusivity and better coordination between the policy stakeholders is essential for effective design, development, implementation, and monitoring and evaluation of the monetary policy, resulting in balanced economic growth and social development,” he added.
Professor Asghar Zaidi, vice chancellor of GCU, appreciated the efforts and stressed the need for relevance in research topics, especially at MPhil and PhD levels.
He urged the students to show interest and work on real problems, which was endorsed by Dr Babar Aziz, chairperson of the Economics Department.
