Powers and Functions of the Monetary Policy Committee are laid down in the State Bank of Pakistan Act, 1956 (as amended upto 28-01-2022):
"In order to achieve the objectives of the Bank, the Monetary Policy Committee shall -
- formulate 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;
- approve and issue the monetary policy statement and other monetary policy measures;
- perform any other functions conferred on it by law; and
- carry out any ancillary activities incidental to the exercise of its functions under this Act."
|
|