'IMF asks Pakistan for transparency in PSDP projects'

ISLAMABAD: Raising ‘concerns’ on the Public Sector Development Programme (PSDP), the International Monetary Fund (IMF) has asked Pakistan for transparency in the projects, ARY News reported on Monday, quoting well-placed sources. 

The IMF has raised concerns on the report shared by Pakistan regarding PSDP projects by saying the complete details of investment are missing.

The international lender has urged Pakistan to make the budget documents ‘effective’ and include the location and development formats of the PSDP projects in it.

The PSDP should be finalised by keeping the development projects in view in the upcoming budget, the IMF said as per sources.

Meanwhile, the sources within the Planning Commission said the finance and planning ministries will complete the paperwork in line with the IMF directions.

Read more: Cabinet approves hike in gas tariff on IMF demand

On February 14 it emerged that Pakistan is likely to sign a fresh loan programme with the International Monetary Fund (IMF), after the completion of the current one.

As per details, Islamabad is expected to sign the Extended Fund Facility programme for three years and would share budget proposals for FY-2024-25 with the International Monetary Fund, the sources said.

They further said the IMF would be given assurances of further jacking up electricity and gas prices and shunning subsidies burden on the economy, before signing the new loan programme.