The International lender has urged relevant authorities to clearly specify the locations and development formats of the PSDP projects.
ISLAMABAD: (UrduPoint/Pakistan Point News-Feb 19th, 2024) The International Monetary Fund (IMF) expressed significant reservations regarding Pakistan's Public Sector Development Programme (PSDP) on Monday, urging the country to enhance transparency in its projects. The IMF highlighted that the PSDP report submitted by Pakistan lacked comprehensive details.
Emphasizing the necessity for an effective budget document, the IMF urged relevant authorities to clearly specify the locations and development formats of the PSDP projects. Sources indicate that the IMF has called upon the government to finalize PSDP projects in alignment with the forthcoming budget.
Furthermore, sources suggest that the IMF seeks assurances regarding the increment in electricity and gas bills and the cessation of subsidies prior to the initiation of the new loan programme.
The latest reports suggested that the Planning Commission along with the Finance and Planning Ministries will expedite the paperwork according to the IMF's directives. Pakistan is anticipated to sign the Extended Fund Facility Programme for a duration of three years, and is expected to share budget proposals for the fiscal year 2024-25 with the IMF.
