Monetary & Fiscal Policy board meeting to discuss rupee decline: Report

ISLAMABAD: The Finance Minister Asad Umar has summoned a meeting of Monetary and Fiscal Policy Coordination Board on Friday to debate the decline of the rupee.

According to well-informed sources, a follow-up meeting has been set for December 7^th, 2018 of the Monetary Policy and Fiscal Policy Coordination Board under the chairman of Finance Minister Asad Umar, reports Business Recorder.

No specific agenda has been shared for the meeting, however, insiders declared the major issue of discussion would be rupee devaluation which has put the Pakistan Tehreek-e-Insaf government in a limbo.

Also, contradictory statements from the Prime Minister Imran Khan and Finance Minister Asad Umar hasn’t soothed the nerves of market players.

As per sources, Governor State Bank of Pakistan (SBP) Tariq Bajwa is going to share the reasons behind the rupee fall on November 30^th, a day after the PTI government completed its 100-days in power.

Moreover, sources stated the meeting is likely to set up a core committee constituting of officials from the SBP and the Finance Ministry to take such decisions together in future.