Save Our Pak
Islamabad: Pakistan has accepted the IMF’s request for a special audit of the last 10 years of supplementary grants.
According to details, the 10-day technical talks between Pakistan and the International Monetary Fund (IMF) have been completed. During these discussions, both sides reviewed reforms related to public finance management and the overall budget process.
Sources in the Ministry of Finance said that Pakistan and the IMF reached agreement on several important points.
Pakistan agreed to conduct a special audit of supplementary grants issued during the past decade. In return, the IMF accepted Pakistan’s proposal to limit the federal government’s powers when issuing supplementary grants.
Officials said that both sides discussed the targets set for changing the public finance system and the budget process. They also agreed that the digitized master plan for public finance management will be closely monitored.
A review was also held on the Digital Public Finance Management Assessment to make the budget process more transparent.
Sources added that the Auditor General will now audit the mechanism for supplementary grants to ensure more transparency and effectiveness. They also agreed to introduce certain amendments to the Public Finance Management Act before the next budget.
The IMF’s technical mission arrived in Pakistan on November 11 to examine progress on budget-related targets and to improve the efficiency of the public finance management system.
According to the Ministry of Finance, these talks are an important step toward improving financial transparency and better planning for Pakistan’s future budgets. This is expected to make the next budget more effective and transparent.
Reported by Save Our Pak
