It has already been envisaged in the 5-year Strategic Plan of SBP that the current internal Monetary and Exchange Rate Policy Committee will be transformed into a conventional Monetary Policy Committee with decision making powers about altering the monetary policy stance in a transparent manner in future.
The current state is one in which the uncertainties in the global economy in the throes of overcoming the crisis, and the ensuing risk factors, are not disappearing but lurk constantly around every corner.