SBP stresses need for fiscal policy to work with monetary

policy during high-inflation

Mastercard has signed a strategic MOU with Pakistan’s Punjab Central Business District Development Authority (PCBDDA) to turn the community into a cashless economic zone and drive digital transformation in the country. The collaboration will see Mastercard deploy its innovative smart city solutions in the Central Business District as the Preferred Payments Partner to enable investors, businesses, residents, and authorities to connect simply and seamlessly through digital channels. Citizens will be able to make everyday payments as well as pay for bills and utility services through automated portals. pr

Nestlé, Telenor join forces to address iron deficiency among schoolchildren

• According to School Age Children Health and Nutrition Survey (SCANS) Punjab & Sindh 2020, 9 out of 10 children in Pakistan have inadequate iron in their diet, which could lead to iron deficiency.

• Therefore, Nestlé and Telenor Pakistan have joined forces to address the issue of iron deficiency. On 20th February, 2023, both companies signed a contract to work together to ensure that children in Pakistan do not suffer from iron deficiency.

• To achieve this, Nestlé will be providing extensive information on balanced diets, nutritional requirements, symptoms of iron deficiency, and how to prevent it with iron-rich foods. Telenor will be amplifying this information through live shows on their platform, Khushaal Watan. pr

Islamabad news desk

The State Bank of Pakistan (SBP) has acknowledged the short-term impact of monetary tightening on economic activity but stated that controlling inflation is crucial for sustainable growth. Fida Hus- sain, Director Monetary Policy Department, SBP, emphasized that the bank's primary objective is to achieve price stability, which is essential for creating a predictable environment for consumers and investors to plan their savings and make investment decisions, which would affect growth prospects. The SBP recently raised its policy rate by 100 basis