IMF Raises Objections Over Pakistan’s Budget Targets; Rifts Emerge Among Key Ministries

Islamabad: The International Monetary Fund (IMF) has raised serious concerns over Pakistan’s proposed budget targets for the upcoming fiscal year, particularly objecting to the financial burden of development projects. According to sources, the IMF expressed apprehension about the rising cost implications, with the development project “throw-forward” now exceeding PKR 10 trillion.
In response, Prime Minister Shehbaz Sharif has asked the Ministry of Planning to provide detailed information on 500 ongoing development projects. Sources revealed that most of these are costly infrastructure initiatives, which have made budget approval a challenging task for the government.
Tensions have reportedly surfaced between the Ministry of Finance and the Ministry of Planning over budget targets. Sources claim that the lack of consensus has delayed the planning process for the next fiscal year.
Adding to the complications, the Annual Planning Coordination Committee’s crucial meeting has been postponed. A new date will be announced later. The meeting was intended to finalize recommendations for the upcoming fiscal year’s development budget and economic plan, as well as review the current year’s economic performance.
Officials have warned that the delay in this key meeting may negatively impact the overall budget formulation process.