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16 February 2024

HomeBusinessIMF stresses need for more social support programmes in Pakistan

IMF stresses need for more social support programmes in Pakistan

IMF stresses need for more social support programmes in Pakistan

IMF stresses need for more social support programmes in Pakistan

ISLAMABAD: (Web Desk) The International Monetary Fund (IMF) has stated that besides the Benazir Income Support Program (BISP), Pakistan should launch more social support programmes.

Pakistan should take more measures to extend social protection to financially poor people, the global lender said. “Pakistan should take consistent efforts to run the social assistance programme,” said the IMF in the statment.

It advised, “The protected electricity and gas tariff slabs should remain continue.” The IMF also said, “In current fiscal year the targets of health and education expenditures were achieved in September, but the caretaker government could not attain the December target owing to limited capability.”

It urged the next elected government to continue social security expenditures till the end of the ongoing financial year. It praised the BISP for its best mechanism to extend prompt support, saying that the program still had capacity for further improvement.

Last Thursday,  American credit rating agency Fitch Ratings maintained that Pakistan will remain dependent on the IMF programme implementation and its official aid for the next few years.

The rating agency said, “We view the chance of election outcomes influencing credit profiles as being higher in Pakistan and Sri Lanka, which both will remain dependent in the next few years on successful IMF programme implementation and official support.”

It maintained that reform momentum has slowed in the run-up to elections and the policy agendas of the next governments could affect credit profiles. However, the agency generally expects policy continuity to be the main theme in most places.

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