Section 9E (SBP Act 1956): Power & Functions of the Monetary Policy Committee:

MPC shall, without prejudice to its powers and functions and those of the Bank, support the general economic policies of the Federal Government and shall :

1. formulate, support and recommend the monetary policy, including, as appropriate, decisions relating to intermediate monetary objectives, key interest rates and the supply of reserves in Pakistan and may make regulations for their implementation;
2. approve and issue the monetary policy statement and other monetary policy measures;
3. perform any other functions conferred on it by law; and
4. carry out any ancillary activities incidental to the exercise of its functions under this Act.

Monetary Policy Committee