IMF wants SOEs under CMU oversight

The International Monetary Fund (IMF) is seeking the inclusion of state-owned enterprises (SOEs) – Pakistan National Shipping Corporation (PNSC), Radio Pakistan, and Post Office– under the Finance Division Central Monitoring Unit (CMU) and submission of their periodic performance to the federal cabinet. Well-informed sources said that the Fund has asked for the inclusion of these SOEs to the list to be monitored by the Finance CMU and their periodic report should not only be presented to the federal cabinet but also to be published. The periodic report to the federal cabinet would update the cabinet members about the performance of these entities and take measures to mend them.The government has committed to the IMF in the SBA that to improve SOE oversight functions and provide better analysis at the aggregate SOE level, the authorities are advancing the delayed full operationalization of a CMU within the Ministry of Finance (MoF) and the issuance of its first periodic report on the performance of SOEs to the government (end-November 2023). (Business Recorder)