Pakistan budget looses its credibility: World Bank

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World Bank (WB) has said Pakistan budget has lost its credibility and its public finance system has also deteriorated.

WB had sent final draft of its report on Public Expenditure and Financial Accountability (PEFA) to finance ministry in June. In the report a review has been made of Public Finance Management System and budge of Pakistan from the financial year 2015-16 to 2017-18. The report manifests the poorest performance of ministry of finance which has failed to discharge its obligations and it let the violations of financial rules persist .

There was a pressure from finance ministry on WB for softening the report but an official of WB said this report was final report from WB.

Sources said different departments of ministry of finance kept on holding responsible each other but no action was taken against any one on this count.

When comparison of the recent report was made with the review of this nature by WB in 2012, it came to light all the seven key indicators were witnessing downfall.