Day: March 15, 2022

Lahore, March 15, 2022 (PPI-OT):A cultural walk, seminar and Punjabi music gala were held here at the Government College University Lahore on Monday in connection with the Punjab Culture Day 2022. The events, organized by the University’s Punjabi Majlis and Society for Culture and Heritage (SOCH), spread the beautiful colours of Punjabi culture on the campus with enriched folk tunes of traditional music, bhangra and intellectual debate at the Punjab Culture seminar titled “representation of Punjabi culture in socio-literary art forms”.

Vice-Chancellor Prof. Dr Asghar Zaidi led the on-campus cultural walk along with renowned poet, writer Afzal Saahir and Punjab Department Chairperson Prof. Dr Saeed Khawar Bhutta. A large number of students wearing Punjabi cultural dresses participated in the walk. Speaking on the occasion, Prof. Zaidi said that they are celebrating Gilgit Baltistan, Punjab and Pashtun cultural days this week on three consecutive days.

“Celebrating our cultural diversity in universities is paramount as it promotes awareness, unity and dispels prejudicial views,” he added. The Vice-Chancellor lauded that the GCU music gala brought out the Punjabi cultural colours on the campus. Afzal Saahir appreciated the initiative of the Punjab government to celebrate Punjab Culture Day in schools, universities and colleges, saying that we need to connect our youth to their culture.

Prof. Dr Saeed Khawar Bhutta said Punjabi culture is the epitome of life that is colourful, rich and diverse; its literature, language, art, music, philosophy, festivals, food and dressing is unique and beautiful. Later, Punjabi poet Shaista Nuzhat, Faqeer Khana Museum Director Faqeer Syed Saif U Din, Prof. Dr. Muhammad Jawad, Parveen Malik, Sumaira Khalil, Vice-Chancellor Prof. Zaidi, Afzal Saahir and Prof. Dr Saeed Khawar Bhutta addressed the seminar. Different food stalls were set up on the campus where a variety of food dishes from every corner of the provinces of Pakistan were arranged to attract students.

For more information, contact:
Public Relations Department,
Government College University (GCU)
Squash Complex, GC University, Lahore, Pakistan
UAN: +92-42-111-000-010 Ext: 296
Tel: +92-42-99213343
Cell: +92-321-8440769
Email: registrar@gcu.edu.pk
Website: http://www.gcu.edu.pk

Lahore, March 15, 2022 (PPI-OT):Panellists suggest SBP’s increased communication regarding its monetary policy, its linkage with the problems of common man, and the accountability of its performance regarding inflation targeting, before the parliament. A consultative meeting on “State Bank of Pakistan’s autonomy, credibility and inflation expectations” was held here at the Government College University Lahore in collaboration with the Sustainable Development Policy Institute (SDPI) and Friedrich Ebert Stiftung (FES).

The panellist included GCU Vice-Chancellor Prof. Dr Asghar Zaidi, SDPI Research Fellow Dr Sajid Amin Javed, Bristol University UK Lecturer Dr Ahmed Jamal Pirzada, Business Recorder Head of Research Mr Ali Khizar Aslam and GCU Associate Professor Dr Saima Sarwar. The panellists discussed the social impacts of monetary policy in Pakistan.

Speaking on the occasion, Vice-Chancellor Prof. Asghar Zaidi welcomed SBP’s approach of opening up their policies for debate in order to receive feedback from the experts and academia. He emphasized understanding SBP’s role in tackling the most prominent and basic issue of Pakistan i.e., inflation, keeping in mind the social repercussions of the changes in monetary policy.

Dr Sajid Amin Javed referred to his recent study titled ‘Monetary Policy for All: Understanding the Social Footprint of Monetary Policy in Pakistan’, and highlighted the growing evidence of monetary policy’s influence on social indicators such as inequality. His recommendations for SBP, in the light of the Amended Act of 2021, entailed its focus on price stability using fixed and quantifiable inflation targets, and enhanced interaction with civil society and academia, in order to further propagate and expand this debate.

Dr Ahmed Jamal Pirzada pointed out some discrepancies between SBP’s claims about anchoring the inflation expectations and the data-on-ground. Referring to the State Bank’s failure to control inflation even after the enactment of the recent autonomy act, he placed the responsibility on the lack of coordination between the fiscal and monetary policies of the government.

Answering the same question, Mr Ali Khizar underscored the role of SBP’s expansionary monetary policy and other private finance schemes, coupled with a huge proportion of cash-on-hand that is out of the banking channels, in shooting up the inflation rate and making it hard to bring it down. The panellists also discussed the role of academic institutions in increasing awareness among the students regarding the role of SBP in targeting inflation through its monetary policy.

Dr. Saima Sarwar suggested the initiation of financial literacy programmes sponsored by SBP and SDPI, along with an open access to their data in order to expand research and suggest informed policy recommendations. She highlighted the need of SBP-funded research chairs in each educational institution, that could help in bridging the gap between theory and practice. The meeting concluded with the panellists suggesting SBP’s increased communication regarding its monetary policy, its linkage with the problems of common man, and the accountability of its performance regarding inflation targeting, before the parliament.

For more information, contact:
Public Relations Department,
Government College University (GCU)
Squash Complex, GC University, Lahore, Pakistan
UAN: +92-42-111-000-010 Ext: 296
Tel: +92-42-99213343
Cell: +92-321-8440769
Email: registrar@gcu.edu.pk
Website: http://www.gcu.edu.pk