On Tuesday, the International Monetary Fund (IMF) presented a series of suggestions to the Pakistani government to bolster the nation’s economic stance. Central to the IMF’s proposal was the privatization of Utility Stores and other state-owned entities, envisioning enhanced efficiency and profitability by transferring them to the private sector.
Moreover, the IMF emphasized augmenting the budget for the Benazir Income Support Programme (BISP) to assist the economically vulnerable sections of society further.
Criticizing the leadership of government-owned enterprises, the IMF pointed out their adverse impact on the current economy and urged for reforms. While the Ministry of Industries has also advocated for the privatization of Utility Stores, the interim government remains silent on the IMF’s recommendations. Discussions are underway regarding the privatization of Utility Stores and the expansion of the BISP budget. Still, a conclusive decision, especially from the Ministry of Industries and Production regarding Utility Stores, remains pending.