The International Monetary Fund (IMF) has raised concerns about the lack of transparency surrounding projects included in the Annual Development Program, high-level Planning Ministry sources told ProPakistani.
The lender has offered suggestions on next year’s development budget which will help make the initiative more effective and transparent. Sources said the IMF has complained that complete information on investments in development projects under the Public Sector Development Program (PSDP) is not readily available.
The lender has emphasized transparency in PSDP projects and suggested several tweaks to address this issue. It has recommended the effective documentation of development projects in the budget for the upcoming financial year. Additionally, the location and format of these projects should be clearly outlined in budget documents, as suggested by the IMF.
It has been proposed that in FY25, development projects under PSDP will not exceed the budget limit. The IMF will also be briefed on the objectives behind the construction of these development projects, particularly in light of financial challenges.
Sources added both the Finance Ministry and the Planning Ministry have been tasked with completing the necessary paperwork to fulfill the IMF’s conditions.
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