Pakistan ought to shift deposits of Rs2,900bn into Federal Consolidated Fund: IMF

The Worldwide Financial Fund (IMF) has expressed severe considerations over Pakistan’s failure in operationalising the Treasury Single Account (TSA-1) below which Islamabad needed to shut down the accounts of federal and provincial governments into non-public industrial banks with whopping deposits of Rs2,900 billion. The IMF hinted at bringing connected autonomous our bodies and entities, together with these belonging to the Ministry of Protection and the armed forces, as a part of the structural benchmark of $6 billion Prolonged Fund Facility (EFF). Underneath the Treasury Single Account (TSA)-1, Pakistan already agreed with the IMF…