The adviser was chairing a meeting of the Monetary and Fiscal Policies Coordination Board, according to a press statement issued by the finance ministry. The SBP governor appreciated the efforts of the Ministry of Finance for curtailing fiscal deficit and achieving positive primary balance in first three quarters of current fiscal year. The measures, he said, include Temporary Economic Refinance Facility (TERF), Refinance Facility for Combating COVID-19 (RFCC) and Refinance Scheme for Payment of Wages and Salaries to the Workers and Employees of Business Concerns. However, he added, accommodative fiscal and monetary policies adopted by the government would be helpful in stimulating economic activities. However, due to decline in imports, current account deficit may not be adversely affected,” he stated.

Source: Pakistan Today April 30, 2020 13:30 UTC