ai IMF Tells Pakistan to Improve Budget Oversight and Monitor Development Funds in Real Time
The International Monetary Fund (IMF) has suggested that Pakistan enhance its public finance management to enhance the monitoring of spending on budget funds and monitoring of development funds in real-time.
The IMF technical team, which is on a visit to Pakistan, recommended the use of contemporary methods to improve budget tracking. While meeting with the Ministry of Finance, the team was informed about the current budget release strategy and tracking system for development projects. They proposed a plan to establish a special unit that would track fund disbursements for projects in real time in the next budget.
Sources have found that the IMF and the Finance Ministry will coordinate to handle the release of money for every project. One of the suggestions in the plans is to restrict new financing until earlier allocated money is completely utilized.
The IMF team also proposed ideas for the budget in the fiscal year 2025-26 and looked over the entire process for making the budget, including the budget call circular.
