After the Ministry of Finance — citing scarce funds and strict International Monetary Fund (IMF) conditions — excused itself from providing funds for general elections in Punjab and Khyber Pakhtunkhwa (KP), the National Assembly and Senate’s standing committees on finance on Thursday rejected the money bill seeking assistance in the matter.
During the meeting, NA’s standing committee chairman Qaiser Ahmed Sheikh — who also presided over it — suggested that Finance Minister Ishaq Dar come and answer questions regarding the current state of the country’s economy.
At this, Minister of State for Finance Aisha Ghaus Pasha said that they have informed the body about the situation. She further said that Pakistan has been bound by the IMF to keep the fiscal deficit on target.
“We are facing a shortage of funds and a huge deficit and do not have additional funds available apart from the allocated budget,” she said.
She added that the provision of funds outside of the budget would be a violation of IMF condition
Meanwhile, during the Senate’s standing committee session, the state minister said that Pakistan had a limited amount of funds as the country was struggling to avert a possible default.
