Ijaz Kakakhel Islamabad
A legislative body of upper house of parliament on Monday demanded details of utilization of funds received from IMF since 2018 till date.
The demand was made during a meeting of the Senate Standing Committee on Economic Affairs held on Monday under the chairmanship of Senator Saifullah Abro at the Parliament House. Other participants included Senator Taj Haider, Falak Naz, Kamran Murtaza, and representatives of attached departments.
The Chairman Committee enquired about the utilization of funds received from the IMF since 2018, stating that this is the 26th program of the IMF. He recommended the SBP to provide details regarding deficits in all accounts (current and financial) and the utilization of the IMF loans.
He lamented that requisite information had been sought over three meetings and submit it within three days. He further enquired about actions taken by the State Bank regarding the return of extra amount of approx. Rs. 65 billion from various commercial Banks to Govt. of Pakistan in lieu of over invoicing of LCs during the year 2022, noting that the then Finance Minister had also recognized the issue and directed an investigation.
