ISLAMABAD:

As the first year of the $7 billion International Monetary Fund (IMF) programme comes to an end, the government has failed to bring state-owned enterprises (SOEs) under a new legal framework, breaching its commitments due to resistance from these public sector firms.

The proceedings of a recently held preparatory meeting for the upcoming IMF review talks for the $1 billion loan tranche revealed that there had been almost negligible progress in improving the governance of public sector firms and regulatory bodies, finance ministry sources told The Express Tribune.

They said entities such as the Water and Power Development Authority (Wapda), Pakistan Telecommunication Corporation, and Pakistan Railways were not fully cooperating in amending their laws to separate policymaking f

See Full Page