The International Monetary Fund (IMF) has raised concerns over delays in auditing Pakistan’s state institutions, as reported by Auditor General Ajmal Gondal during a Public Accounts Committee (PAC) meeting. Approximately 500,000 to 600,000 audit paras related to various ministries and institutions remain unresolved. Gondal highlighted that, despite parliamentary directives, chief internal accountants have not been appointed, leading to a flawed financial audit system. Currently, only 15 institutions have chief financial officers, and none possess a chief internal accountant. This backlog has resulted in over 30,000 pending audit cases with the PAC.
These developments coincide with ongoing discussions between Pakistan and the IMF for the first biannual review of the $7 billion Extended Fund Facility, aiming to address governance and corruption vulnerabilities.
Additionally, Pakistan is optimistic about the first review of its $7 billion IMF bailout program, with Finance Minister Muhammad Aurangzeb stating that the country is “well positioned” for the evaluation. Positive macroeconomic indicators, such as a higher-than-anticipated budget surplus, might offset concerns over missing tax collection targets.
