The International Monetary Fund has expressed significant concerns regarding multiple government budget targets, particularly those outlined in the public sector development program, according to reliable sources.
Development Project Backlog Reaches Critical Levels
The IMF has highlighted a pressing issue: the mounting backlog of development projects, which has surged beyond Rs. 10,000 billion. This staggering amount represents the accumulated cost of development schemes that have received approval but remain incomplete.
Prime Minister Orders Comprehensive Project Review
In response to these concerns, Prime Minister Shehbaz Sharif has commissioned the Ministry of Planning to conduct thorough assessments of 500 active development projects. The vast majority of these initiatives focus on infrastructure development across the country.
Budget Coordination Challenges Emerge
The government faces significant hurdles in establishing the development budget framework for the upcoming fiscal year. Sources indicate that coordination between the Ministry of Finance and the Ministry of Planning has reached an impasse, with no consensus achieved on budget targets.
Planning Committee Meeting Postponed
The Annual Planning Coordination Committee meeting, originally scheduled to finalize Public Sector Development Program targets, has been delayed indefinitely. Officials will announce the rescheduled date in due course.
The committee’s mandate includes evaluating the current fiscal year’s development program performance while formulating the strategic direction for next year’s development initiatives. This postponement reflects the complexity of reconciling IMF concerns with government development priorities.
