Business
IMF objects transparency of annual development program plans
The complete information of investment in development projects under PSDP is not available which should be done immediately.
Islamabad: The International Monetary Fund (IMF) has raised objections to the transparency of projects under Pakistan's annual development program, reportedly.
According to the media reports, complete information of investment in development projects under Public Sector Development Program (PSDP) is not available, there is an urgent need to bring transparency in these development projects.
It is reported that IMF has suggested the effectiveness of documentation process of development projects in the budget of the next financial year. The location and development format of the development projects should also be included in PSDP keeping in mind the budget.
IMF officials say that due to financial difficulties, the objectives of the development projects should also be informed to the International Monetary Fund. Ministry of Finance and Ministry of Planning will do the paper work to implement the condition of IMF. For the budget of the next financial year, the IMF proposed suggestions for the development budget.