Islamabad (Staff Reporter)
The International Monetary Fund (IMF) has imposed a fresh set of reform conditions on Pakistan under the $7 billion Extended Fund Facility (EFF) program. These measures include mandatory asset declarations for civil bureaucrats, deregulation of the sugar and wheat sectors, and the publication of a national risk assessment on money laundering and terrorism financing.
The IMF has also sought a comprehensive report on incentives offered to encourage overseas remittances. To strengthen institutional capacity against corruption, the government has initiated amendments to the asset declaration system as part of a structural benchmark due in June 2025. Under this framework, the assets of senior federal civil servants will be published on an official government website by the end of December 2026. The scope will later be expanded to include senior provincial civil servants, with banks granted full access to the information.
Following an institutional risk assessment, the National Accountability Bureau (NAB) has been directed to prepare specific action plans for 10 government departments identified as having the highest corruption risks. In its staff report, the IMF stated that effective enforcement of laws would help strengthen financial system stability.
Pakistani authorities have committed to updating and publishing the national risk assessment on money laundering and terrorism financing by the end of March 2026. In addition, improving risk-based Anti-Money Laundering (AML) supervision has been prioritized, covering sectors such as real estate agents, jewelers, and dealers in precious stones and metals.
Furthermore, the Securities and Exchange Commission of Pakistan (SECP) has decided to make the Beneficial Ownership Register digitally accessible by the end of January 2026. The IMF emphasized the need for further efforts to assess the macroeconomic impact of trade-based money laundering and to effectively implement mitigating measures.