Govt notifies new procurement rules with IMF team in town

Dawn reported that the federal government notified the Public Procurement Rules 2026 on Monday, two days before a deadline and just as talks with the IMF over a $1.2 billion disbursement got underway. The new framework repeals the 2004 rules and took effect immediately, while procurement cases launched earlier will continue under the older framework. The PPRA said the changes aim to boost openness and rivalry in government buying.

Federal procuring agencies must now use EPADS, the electronic system the PPRA develops and enforces, while direct contracting with state-owned enterprises keeps certain exemptions despite IMF reservations. Bidding can be restricted to national firms in specific cases, and enforcement is tightened through blacklisting, cross-debarment and independent grievance committees with an appeal route at the PPRA. Alternative methods such as gallop tendering and negotiated tendering are permitted under set conditions.

Dawn also reported that authorities have missed an end-March 2026 structural benchmark on Sovereign Wealth Fund Act amendments covering seven state-owned firms. Those firms hold about $8 billion in assets, and most are PSX-listed blue chips such as OGDCL, PPL and National Bank of Pakistan, yet they sit outside the usual reporting regime. The amendments await parliamentary approval, while an IMF staff mission led by Iva Petrova, in Pakistan since September 23, is holding talks with finance officials.