According to high-level sources, the International Monetary Fund (IMF) has expressed growing concern regarding the escalating financial deficits of State-Owned Enterprises (SOEs), urging immediate action from the federal government. Negotiations between the IMF and the Ministry of Finance continue at a policy level, with the IMF expressing dissatisfaction with the performance of government-operated institutions. The IMF has emphasized the necessity for urgent measures to privatize these financially struggling entities and has requested a comprehensive and current assessment of their financial status.
In response, officials from the Finance Ministry have assured the IMF of delivering the requested report within a span of two days. Additionally, sources have disclosed that a dedicated central monitoring unit within the Finance Ministry is actively engaged in compiling a detailed report on SOEs.
It is noteworthy that the financial losses incurred by state-owned entities amounted to Rs. 1,400 billion in the year 2022 alone, and projections suggest a further increase in these losses throughout 2023, as per insider reports.
