The EAD official stated this on Friday during a meeting of the Senate Standing Committee on Economic Affairs held under the chairmanship of Senator Saifullah Abro.
The Committee reviewed the implementation of previous recommendations regarding IMF funds, including amounts received, disbursements, repayments, interest paid year-wise, and a comprehensive debt breakdown.
The Chairman of the committee expressed concern that while aggregate figures are available, there is no clear audit trail or transparent accounting. He highlighted that successive governments’ commitments to reduce reliance on the IMF programmes have not translated into clear data on repayments and interest obligations.
Senator Hidayatullah Khan inquired whether the IMF funds categorised as grants or balance of payments support were effectively used for structural reforms, while Senator Syed Waqar Mehdi questioned whether utilisation targets were met. Officials noted that targets exist, but systemic transparency and data visibility remain limited.
In response to a query raised by the Chairman Committee, the Committee was informed that the budgetary amount was received in 2010, 2019, and 2020. The chairman of the panel asked about the details of the extended fund facility of an amount of SDR 3.334; however, the representative of the Finance Division was unable to satisfy the Committee.
It was reported that as of 30th June 2025, Pakistan’s total external debt liabilities were approximately USD 126 billion, including USD 82.5 billion in external public debt and USD 43.5 billion government-guaranteed debt.
Senator Hidayatullah Khan reiterated the need for complete year-wise data on external debt and the IMF liabilities for 2008, 2013, 2018, 2022, and 2024.
The chairman endorsed this suggestion, emphasizing that accurate and verified figures are essential for parliamentary oversight. The chairman of the committee directed the EAD to provide a comprehensive breakdown of external public debt, detailing project-wise allocations, creditor categories, and year of contracting since 2008, to the Committee.
The members of the committee expressed concern over the absence of the Minister for Economic Affairs, Ahad Cheema. The committee emphasized that the minister’s participation is essential for informed discussions and effective coordination.
The Senate’s panel considered the matter regarding the release of unspent funds for the renovation and restoration of Multan’s historic core. It was informed that the total approved cost of the project was approximately Rs 850 million, divided into two phases. However, the chairman of the committee expressed serious concern over the unspent balance of Rs 679 million, which had been redirected by the Management Committee to other projects without proper reporting or accountability.
The committee was informed that Rs 170 million had been spent on the preparation of the project’s feasibility report. The EAD also briefed the committee that the project had been shifted from the Federal Government to the Provincial Government.
The committee found it surprising that the funds allocated for various project components were not utilized appropriately. It emphasised that any such reallocation must follow transparent and well-documented procedures.
The Committee also reviewed ongoing power sector projects, including the procurement of STG goods under the Asian Development Bank-funded Power Distribution Strengthening Project being implemented through the LESCO. A loan of USD 80 million had been signed for the STG component. Procurement under eight lots is underway, with technical evaluation through a third-party assessment. Senator Abro raised concerns over procedural inconsistencies.
After the briefing by the MD of the Public Procurement Regulatory Authority (PPRA), the committee observed that LESCO had completely violated PPRA regulations. The Joint Secretary (Power Division) also acknowledged these violations. The committee expressed surprise that most of the lowest bidders were declared non-responsive without following the PPRA rules, and that a bidder declared responsive in one lot of the project was declared non-responsive in another.
Additionally, Senator Falak Naz expressed concern over poor access roads in Chitral affecting local communities and tourism.
The National Highway Authority reported 85 percent of rehabilitation work completed, with the remaining work likely to be completed by November 2025.
The chairman of the committee decided that the next meeting of the committee would be held in Chitral to review progress on the project, and representatives of the provincial government would also be informed to attend the meeting to resolve the issue with the NHA.