The International Monetary Fund (IMF) has raised concerns over delay in amending laws linked to several key institutions in Pakistan. These include laws governing IT, commerce, maritime affairs, water resources, and railways. Sources confirmed that the IMF has formally sought an explanation from the government.
Pakistan is currently holding second review talks with the IMF for the release of a $1.2 billion tranche. While the government has described discussions as positive, the IMF flagged that important commitments under the Memorandum of Economic and Financial Policies remain unfulfilled.
Amendments were due by June but have not been completed. These include updates to the Port Qasim Authority Act, Gwadar Port Ordinance, and the Karachi Port Trust Act of 1980. A draft amendment to the Pakistan Telecommunication Re-organization Act is also still pending.
Officials said the State Life Insurance Corporation (Nationalization Order) remains under review. Proposed amendments to the WAPDA Act are delayed, while consultations on changes to the Pakistan Railways Act of 1890 are still ongoing. The draft Exim Bank Act is prepared but not approved, and revisions to the National Bank Act are tied to the Sovereign Wealth Fund Act.
The IMF also reviewed refinancing schemes, urging Pakistan to strengthen export and trade financing. The government assured the mission that steps are being taken to boost credit flow and support priority sectors. Efforts to make the Exim Bank operational soon were also highlighted.
Finance Minister Muhammad Aurangzeb recently outlined a broader roadmap for economic stability. Speaking at the Pakistan Business Summit in Peshawar, he emphasized tax reforms, private sector growth, and strategic investments.
The IMF’s reservations over delay in amending laws underline the need for timely action to maintain reform momentum and secure further financial support.
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