IMF asks government to reduce PIA losses
KARACHI: The International Monetary Fund (IMF) has asked the central government to reduce the losses of Pakistan International Airlines (PIA), ARY News reported Saturday, citing sources.
IMF mission in Pakistan for 9th review of deadlocked loan program talks
The fund has instructed the central government to formulate a strategy to mitigate the losses faced by PIA as the overall loss reached Rs 400 crore.
The IMF also asked Islamabad for a plan to make PIA a profitable organization. A source from the Privy Council said:
The International Monetary Fund (IMF) has previously expressed concerns about fiscal discipline and mismanagement in government agencies.
Read more: The IMF is concerned about fiscal discipline in government agencies.
by source Lenders around the world have expressed frustration over the ongoing deficits in government agencies.
“Lack of improvement in electricity and gas transmission losses,” the IMF pointed out. “Pakistan suffers continued losses in the power sector,” the IMF delegation noted. “It insists on privatizing a losing government entity,” the source said.
The Monetary Fund also called for limiting state intervention in the economy through privatization. It also confirmed regular audits at government agencies, according to sources.