In a bid to enhance the economic situation, the International Monetary Fund (IMF) has recommended that the Pakistani government pursue the privatization of Utility Stores and state-owned entities, according to sources. The IMF proposes the transfer of Utility Stores to the private sector, anticipating increased efficiency and profitability through this move.
As part of the recommendations, the IMF also advises an augmentation in the budget allocated to the Benazir Income Support Programme (BISP). The suggested increase in funding aims to provide additional financial support to vulnerable segments of the population.
Highlighting concerns about the impact of government-owned enterprises on the economy, the IMF suggests that reforms in this area are crucial. The proposal aligns with the Ministry of Industries’ consideration to privatize Utility Stores across the country. However, the caretaker government is yet to respond to these suggestions and proposals put forth by the IMF.
Discussions are ongoing regarding the privatization of Utility Stores and the potential increase in the budget for the BISP program. Despite these deliberations, the Ministry of Industries and Production has not reached a conclusive decision on the matter.
