ISLAMABAD, Feb 19: The members of the Senate were briefed by State Bank Governor Dr. Shamshad Akhtar on the monetary policy and the working of the central bank on Monday at the Parliament House.

The presentation was chaired by the Leader of the House in Senate Wasim Sajjad. Minister of State for Petroleum and Natural Resources Muhammad Naseer Mengal and Minister of State for Finance Omar Ayub Khan were also present on the occasion.

The SBP governor highlighted the transparent manner in which the State Bank and the government conduct their policies.

The members of Upper House were apprised of the reforms process initiated by the government bearing fruits. The dynamics of Pakistan's maturing financial markets were explained and the positive impact it had on the country's economy along with the substantially high growth rate averaging between 6-8 per cent that Pakistan's economy has been able to achieve.

The Senate members were informed that Pakistan's economy had shown strength and resilience despite the external shocks in the form of rising oil prices and the devastating earthquake of October 8, 2005.

The meeting was told that it was the resilience of the economy brought about by the sound structural reforms that allowed economy to withstand the challenges.

Ms. Akhtar informed the senators of the increase in foreign direct investments (FDI) and the confidence the international markets have shown in Pakistan's economic policies.