Tight monetary policy to check money growth

[Naveed Yaseen]

ZAHEER ABBASI
ISLAMABAD (June 13 2008): Finance Minister Naveed Qamar on Thursday said the money growth would be curtailed by further screwing monetary policy and the inflation for the next fiscal year will be maintained within the set target of 12 percent.

"Monetary policy will be a major tool to maintain inflation," Naveed said responding to a query here on Thursday at the post budget briefing but added swiftly that if prices kept rising at the present pace, the government would need to adopt some other measures as well. The government borrowing would also be reduced for this purpose, he said. He said inflation was a global phenomenon and the government has been striving to control it.

http://www.brecorder.com/index.php?id=754713