The International Monetary Fund (IMF) has recommended the privatization of state assets and issuance of sovereign bonds to address critical financial issues and bridge external financing needs in the coming months.
Sources told ProPakistani the issuance of bonds has been suggested during the review talks of Pakistan’s $3 billion Standby Arrangement.
It was advised that the World Bank and international companies should be contacted to facilitate this process. Moreover, maintaining the timely payment of external loans has been highlighted as a priority, especially in November and December. Sources added it was emphasized these payments should be made without delay.
The lender has stressed that agreements for foreign direct investment should be fast-tracked while additional effort should be made to attract investments in sectors such as energy, aviation, minerals, and agriculture.
Sources said efforts to enhance infrastructure are part of the agenda of ongoing review meetings. There is an expectation that a workable plan for outsourcing airports will be completed this month. Further action is anticipated to secure investments for bolstering the capacity of ports since they’re pivotal components of the country’s economic infrastructure.
The IMF has sought a detailed briefing from the Ministry of Finance on the Special Investment Facilitation Council regarding its actions pertaining to tax collection and withdrawal of subsidies.
The lender suggested consultations with the International Finance Corporation for privatizing distribution companies (DISCOs), sources revealed.
