The International Monetary Fund (IMF) has conveyed a strong recommendation to the caretaker government, emphasizing the necessity of reducing expenditures.
IMF has demanded the implementation of revenue-generation measures under the Stand-By Program, which includes the dismissal of officials and the transfer of 203 government companies from ministries to the finance department.
According to sources, as per the agreement, these 203 companies are to be placed under the control of the Finance Ministry because having these companies under various ministries is hindering efficiency.
Due to governance issues in the power sector, including both distribution and generation companies, losses have increased. The petroleum division is also facing significant losses, and the IMF is seeking reforms in the ongoing fiscal year, focusing on Pakistan International Airlines (PIA), Pakistan Steel Mills, RLNG power plants, and distribution companies.
