IMF asks pak to spend more on development.

The International Monetary Fund (IMF) on Friday urged Pakistan to spend more on development as the combined spending by federal and provincial governments in the first quarter remained less than one-tenth of the annual allocations.

The lower spending on development than the allocated budget during the July-September quarter has also undermined the economic growth prospects in this fiscal year.

The savings by the four provincial governments were more than the amount they spent on development in the first quarter.

IMF Mission Chief Ramirez Rigo Ernesto held meetings with...