24th IMF Program for Pakistan I Why Do We Keep Returning to the IMF?

Pakistan is going to IMF for 24th time. Why? All the programs in the past have failed to achieve macroeconomic stability. Was it an issue of program design or implementation?
- We will never know, but PIDE has put forward a new reform agenda which should be a part of, or supplement the IMF program.
- Should there be an independent Growth Commission, just like an independent SBP, focused on medium-term economic planning and productivity?
- This commission could champion deep institutional and incentive reform that PIDE is suggesting and also protect the PSDP from political interference.
- Should this growth commission also be responsible for the medium-term budget as well as performance audits of government agencies and international loans?
- Is an Independent Budget Unit for the parliament that will vet all laws and regulatory initiatives for their viability and economic efficacy, a must now?
- Would an autonomous Debt Agency effectively manage long-term debt, ensure fiscal discipline, and provide regular reports to Parliament and the public?
- Is a shift to performance-based budgeting, a moratorium on new projects, portfolio cleaning, and a sovereign wealth fund the right approach?
- Can PSEs improve efficiency and reduce bailouts with budget constraints, operational independence, and performance-based management?
- Should all PSEs be privatized through the stock market rather than handing them over to the Seth?
- Would simplifying the tax system, enhancing coordination between federal and provincial authorities, reducing compliance costs, and improving tax administration be beneficial?
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Panelist:
SHAHID HAFIZ KARDAR
Former Governor, State Bank of Pakistan
MOHSIN MUSHTAQ CHANDNA
Director General (Debt), Ministry of Finance
MEHTAB HAIDER
Journalist/Senior Staff Reporter, Jang Group of Newspapers
NADEEM UL HAQUE (Moderator)
Vice Chancellor, Pakistan Institute of Development Economics
For Further Details Please Visit:
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