The International Monetary Fund (IMF) has imposed additional conditions on Pakistan to keep its ongoing loan program on track, emphasizing stricter anti-corruption measures and greater transparency in governance.
Among the key requirements is the online disclosure of assets held by senior government officials by December next year.
The IMF has directed the Pakistani government to take strict steps to curb corruption and prepare an action plan to reduce corruption risks. Provincial anti-corruption agencies are to be empowered further to enhance their effectiveness.
Officials are also required to publish their assets online, marking a significant step toward transparency.
Sector reforms and policy roadmaps
In addition to anti-corruption measures, the IMF has called for reforms in the sugar sector. Authorities have been instructed to draft a policy for sugar market liberalization by June.
Moreover, the IMF emphasized preparing a comprehensive reform roadmap for the Federal Board of Revenue (FBR) to broaden the sales tax base and bring more items under standard rates. Amendments to the Government Companies Act are also expected to be presented in parliament.
The IMF further highlighted the need to assess the cost of remittance spending and mandated a detailed report on the cost of transferring remittances. A study on constraints in the local currency bond market has also been required, aiming to strengthen Pakistan’s financial infrastructure.
