The International Monetary Fund (IMF) has mandated Pakistan to bring all state institutions under the purview of the Pakistan Finance Ministry.
This directive comes as part of a broader strategy aimed at enhancing governance and promoting private-sector reforms in the country.
The IMF believes that these measures are pivotal for Pakistan to effectively attract foreign investments, fostering economic growth and stability.
Esther Perez Ruiz, the IMF’s Resident Representative for Pakistan, stated that the significance of governance and private sector reforms as prerequisites for foreign investment. Placing state institutions under the supervision of the Finance Ministry is viewed as a strategic step in this reform process.
Pakistan’s ongoing engagement with the IMF is governed by a $3 billion Standby Arrangement Program, slated to conclude in early 2024. However, the current status and eventual implementation of this program remain subject to further developments and evaluations.
As Pakistan navigates these reforms, the nation’s economic landscape stands poised for potential transformation.
