IMF directs Govt to create a system of disclosure of assets for officers by the end of the year

• Employees found that they were submitting false information to deal with sanctions, detectors.
• Pakistan, IMF Mull revised the GDP growth target of 3.9% from 4.2%.
• The IMF calls on Govt to comply with the deadline for the publication of the GCD report.

ISLAMABAD: The mission of the International Monetary Fund (IMF) asked Pakistan to comply with the publication of the Diagnostic Evaluation Report of Governance and Corruption (GCD) within the prescribed deadline, The news reported on Tuesday.

Requiring the amendment of the rules of government officials (behavior) 1964, allowing actions against those involved in any corrupt practices, the lender has also commanded the government to build a system by December 2025 to ensure the disclosure of 17 assets.

The development came during the paternal meeting between the IMF review mission and Pakistani officials, including Finance Minister Muhammad Aurangzeb, during which the two sides lived during the revision of the actual GDP growth number from the predicted target of 4.2% below. Flood.

Regarding the statement of assets for bureaucrats, officials told the IMF that government officials (behavior) rules of 1964 demanded amendments to the permission of the Prime Minister and the Federal Council to provide digital statements agreed with the IMF.

The IMF requested whether the assets statements were made public and found any mismatch that would take action against them. A senior government official recommended that this be granted this to the FBR.

However, he referred to the discussion that any wing or agencies under FBB may be assigned this project. However, it was also discussed that any separate service should be entrusted to take action against corrupt officials.

The Washington -based lender has pressed Islamabad on this issue last year, but progress has been delayed repeatedly.

The Federal Revenue Office (FBR) has now been tasked with providing technical assistance to the installation department.

The new mechanism would allow the FBR to pointed out incorrect or incomplete statements of assets by government officers. Employees found that submission of false information would face penalties and official investigations in accordance with the IMF guidelines.

The country has about 25,000 officers at the age of 17 to 22 years and there is a wide perception that many do not accurately declare their participation.

The composition of the problem, the employees of many powerful institutions, including the State Bank, the National Electricity Regulatory Authority (NEPRA), the Pakistani Regulatory Authority (Nepra), the Pakistani Regulatory Authority and the Natural Gas (OGRA) and the Pakistani Telecommunication Authority (PTA).

The IMF’s demand aims to improve transparency, enhance accountability and narrow gaps in Pakistan’s governance structure. For years, public control of the wealth of upper bureaucrats has been limited, fueling concerns about corruption and abuse of power.

With the increase in the pressure of the Fund, officials say the government will be forced to take unprecedented measures to bring public affairs of public officials to the public sector, a move that may face resistance through bureaucracy, but is considered critical to restoring the confidence.

Flood relief package

During their meeting, the Pakistanis asked the IMF to allow the Prime Minister’s relief package to be introduced for areas affected by floods through emergency funds already intended for the budget for 2025-26. The IMF side asked Pakistan to find a damage and an evaluation of the needs first, and then any relief package should be granted.

Meanwhile, the lender raised the issue of revenue surpluses committed by the provinces at the height of the RS1.5 trillion to reduce the budget deficit within the desired boundaries. Pakistan is committed to the IMF to create a main surplus of 2.4% of GDP during current use.

The provinces also shared the losses caused by recent floods, as Khyber Pakhtunkhwa’s losses were around RS40 to 50 billion Rs. Punjab did not share its losses, which appear significant because of the exploitation and animal industry. Taking into account the revision of GDP, the losses resulting from Georgia were not huge.

Sources reported that the IMF GCD evaluation emphasized gaps and weaknesses in public finance management, FBR’s tax system and AGPR’s efforts to detect gaps. In the GCD evaluation report, sources reported that the IMF requested timetables for the recommendations made at this upcoming report.

The IMF’s planned deadline for publication of the GCD evaluation report will expire on September 30, 2025, so this report is expected to be published today (Tuesday).

Earlier, the IMF had shared the GCD evaluation plan with the Pakistani side, on which Islamabad had increased serious reservations. Now both sides have discussed this report in detail and the IMF wants its publication within the prescribed deadline.

In addition, it was also discussed that the Tax Policy Unit (TPU) would be separated from the FBR and its establishment was in the final stages under the jurisdiction of the Ministry of Finance.

During the launch of the financial review talks, Finance Minister Aurangzeb informed the IMF about macroeconomic performance, fiscal discipline and flood -related damage.

One question was sent to the official spokesman for the Ministry of Finance, but no answer was received until the report was submitted.