As part of its fiscal reforms under the $7 billion IMF program, Pakistan will close 70 non-interest-bearing government accounts, transferring approximately Rs300 billion to the Treasury Single Account. This move aims to consolidate public funds and reduce borrowing costs, following the earlier transfer of 242 accounts containing Rs200 billion. The government plans to eventually close all non-saving accounts, with total expected transfers reaching Rs400 billion. The closure of these accounts is crucial for improving cash management and addressing concerns over fragmented government finances.
BUSINESSPublished 25 Apr 2026 • Published 6h ago • Updated 2h ago
Pakistan Closes 70 Government Accounts Under IMF Agreement
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Pakistan is set to close 70 government bank accounts and transfer Rs300 billion to the national treasury as part of IMF commitments. The country has met 13 out of 17 performance benchmarks, paving the way for a $1.2 billion IMF tranche approval in May.
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