The International Monetary Fund (IMF) has expressed serious concerns over several of Pakistan’s proposed budget targets, particularly those tied to the Public Sector Development Program (PSDP), according to insider sources cited by NetMag.
A key issue flagged by the IMF is the massive backlog of incomplete development projects, with the cumulative cost now surpassing Rs. 10 trillion. These “throw-forward” projects refer to already-approved schemes that remain unfinished, creating long-term fiscal pressure.
In response, Prime Minister Shehbaz Sharif has instructed the Ministry of Planning to submit detailed reports on 500 active development projects, most of which are focused on infrastructure.
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The government is also struggling to finalize the development budget for the upcoming fiscal year. Coordination issues persist between the Ministry of Finance and the Ministry of Planning, and no consensus has been reached on final budget figures so far.
Adding to the delays, today’s scheduled meeting of the Annual Planning Coordination Committee—meant to finalize PSDP targets—has been postponed. A new date is yet to be announced. The committee is expected to assess the performance of current development projects and outline strategies for the coming fiscal year once it reconvenes.
