IMF calls for leasing government-owned enterprises, utility stores

• The IMF has demanded to hand over utility stores to BISP.
• The international body also demanded an increase in budget.
• Caretaker setup did not yet respond to privatization.

The International Monetary Fund (IMF) called on Tuesday for the lease or sale of government-owned enterprises, including utility stores.

According to details, the IMF has demanded to hand over utility stores to the private sector Benazir Income Support Programme (BISP) and also requested an increase in budget.

The IMF further regrets that the headship of state-owned enterprises is detrimental to the economy in Pakistan’s current economic situation.

However, there are various suggestions from the Ministry of Industries as to whether utility stores should be abolished or handed over to the private sector.

On the other hand, the caretaker government did not respond to the IMF on privatization or liquidation of the utility stores.

Moreover, a proposal to increase BISP’s annual budget by eliminating utility stores is also under consideration.

Added to that, the Ministry of Industries and Production has not come to any conclusion yet for utility stores. Furthermore, it is difficult to make a final decision on utility stores during the caretaker setup.

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Earlier, the International Monetary Fund (IMF) expressed concern on Thursday about the potential shutdown of the U.S. government, describing it as a risk that could have been prevented.