IMF Demands Complete Ban on Non-Cash Adjustments

The International Monetary Fund (IMF) has demanded the Ministry of Finance to ban non-cash adjustments. Finance Ministry sources told ProPakistani that assurances have been given that non-cash adjustments for other ministries will no longer be permitted. The Ministry of Finance has assured that it will not engage in non-cash adjustments when it comes to the assurance grant to the IMF. The approval of funds will be conducted through cash transactions rather than non-cash adjustments. The Ministry of Finance will refrain from making non-cash adjustments to dividends originating from state-owned enterprises (SOEs), it added. Sources said grants or funds allocated to SOEs will not be issued through non-cash adjustments. This aims to ensure transparency and accountability in financial transactions, sources added. After the approval of the principal officer, technical grants will be issued and funds will subsequently be approved by the Economic Coordination Committee (ECC). This meticulous process has been put in place to address concerns related to non-cash adjustments. The Ministry of Finance, in compliance with the IMF’s directive, asserts that funds for various ministries and divisions will be dealt with in cash transactions and all related terms will be implemented rigorously.