Pakistan fails to fulfill IMF's demands
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According to sources, the interim government has made a decision not to privatize the Haveli Bahadur Shah and Balloki RLNG plants, a demand previously made by the International Monetary Fund (IMF).
The Pakistan Democratic Movement (PDM) government had initially assured the IMF of the privatization of both power plants in the Stand By Agreement (SBA) earlier this year.
Within the power division, sources have disclosed that the privatization process has been halted because it cannot be completed during the caretaker government's tenure.
Failing to privatize these RLNG-run power plants may result in the IMF making additional demanding requests.
It has also been revealed that the upcoming elected government of Pakistan will ultimately decide on the privatization of these power plants. Furthermore, the IMF had previously called for the privatization of Utility Stores and state-owned entities.
In its recommendations, the IMF proposed the transfer of Utility Stores to the private sector, aiming to enhance efficiency and profitability.
Additionally, the international financial institution suggested an increase in the budget allocated to the Benazir Income Support Programme (BISP) to provide more financial support to vulnerable segments of the population.
