The International Monetary Fund (IMF) has launched a technical assistance mission in Pakistan to address a persistent statistical discrepancy in the country’s budget, which reached Rs448 billion in the first quarter of the current fiscal year. The mission, requested by Pakistan, aims to improve fiscal governance, enhance data-driven decision-making, and strengthen budget management systems.
The nearly two-week-long mission began discussions on Monday with representatives from federal and provincial governments. Nino Tchelishvili, from the IMF’s Fiscal Affairs Department, is leading the delegation, which will remain in Islamabad until November 21. Government sources indicated that the mission will scrutinize Pakistan’s laws, regulations, and financial practices to identify gaps and provide recommendations for reforms.
According to the Ministry of Finance, the Rs448 billion statistical discrepancy in July–September accounts includes Rs93 billion at the federal level and Rs354 billion across provincial governments. Discrepancies stem from variations in commercial bank deposits, delays in reporting, and book adjustments between the State Bank of Pakistan (SBP), Federal Board of Revenue (FBR), and the Economic Affairs Division. Punjab reported the largest provincial discrepancy at Rs209 billion, followed by Balochistan at Rs66 billion, Sindh Rs47 billion, and Khyber Pakhtunkhwa Rs33 billion.
The IMF mission will review all aspects of Pakistan’s budget, from allocations and releases to financial reporting. This includes assessing public finance management laws, fiscal data strategies, internal controls, and provincial budget planning and execution. The delegation will also scrutinize treasury and cash management processes, including tax and non-tax revenue collection and booking, which reportedly fluctuates by Rs10–15 billion monthly.
A key focus of the mission is the Government Integrated Financial Management Information System (GIFMIS), aimed at improving interoperability, accuracy, and transparency in fiscal data. The IMF team will assess data architecture, storage systems, and privacy measures, ensuring that Pakistan’s budgetary data aligns with international standards. Electronic public procurement systems and central bank payment mechanisms are also under review.
The mission will produce a comprehensive report, which will be shared with IMF executive directors and sponsor countries, including Belgium, Denmark, the European Union, France, Germany, Saudi Arabia, and the United Kingdom. These findings are expected to inform structural benchmarks for Pakistan’s ongoing IMF programs and may influence future fiscal reforms.
This technical mission arrives as Pakistan and the IMF finalize the Governance and Corruption Diagnostic Assessment. The IMF has requested that Pakistan release the governance report prior to the board meeting scheduled for early December, which will approve two loan tranches totaling $1.2 billion.
Experts note that Pakistan has historically relied on guidance from the IMF and World Bank to strengthen fiscal systems, yet challenges in accurately recording revenues and expenditures persist. The IMF’s review aims to address these systemic issues, improve debt reporting, and ensure timely and accurate financial management at both federal and provincial levels.
By enhancing fiscal data governance and closing reporting gaps, the IMF mission seeks to support Pakistan in building a more transparent, accountable, and data-driven budgetary framework.
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