IMF demands utility stores’ privatization across Pakistan

As part of recommendations to improve the economic situation, the International Monetary Fund (IMF) on Tuesday called upon Pakistan’s government, to demand the privatization of Utility Stores and state-owned entities, ARY News reported, citing sources.

In its recommendations, the IMF proposed transferring Utility Stores to the private sector, which could lead to generating greater efficiency and profitability.

Furthermore, the international money lender suggested an increase in the budget allocated to the Benazir Income Support Programme (BISP), which aimed to provide additional financial support to vulnerable segments of the population.

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The IMF suggested that the headship of government-owned enterprises is detrimental to the economy in the current economic situation and advised reforms in this area.

The Ministry of Industries also proposed to privatize the Utility Stores across the country. However, the caretaker government has not yet responded to the suggestions and proposals to the IMF in this regard.

Additionally, the authorities are discussing the suggestion to privatize the Utility Stores and increase the budget of the BISP program, meanwhile, the Ministry of Industries and Production has failed to reach any decision regarding Utility Stores