The International Monetary Fund (IMF) has reportedly asked Pakistan to ensure transparency in the ongoing public sector development projects by saying that the complete annual details of investments regarding the Public Sector Development Programme (PSDP) are missing.
Sources said that the international organization has further urged Pakistan to make the budget documents effective and include PSDP development formats and locations. As per sources, the IMF has said that keeping in view the upcoming budget, the development projects of the PSDP should be finalized.
On the other hand, Planning Commission sources revealed that the finance and planning ministries will complete the paper work in accordance with the IMF requirements. After completion of the current loan program, according to some sources, Pakistan is likely to sign another fresh loan programme with the IMF.
The sources further say that Islamabad is likely to sign an Extended Fund Facility programme for three years with the IMF and would also share budget proposals of FY 2024-2025 with them.
Before signing the new loan program, the government will assure the Fund that it will cut down all the subsidies and raise the prices of gas and electricity in order to lower some burden on the economy.
