An IMF mission arrived in Pakistan on January 30 for the ninth review of the $7 billion Extended Fund Facility (EFF) program. According to the Federal Board of Revenue (FBR), the IMF demands a public declaration of the civil servants’ assets to revive the stalled $ 7 billion program. Moreover, international lenders have also insisted to acquire details of the overseas assets of the bureaucracy. In addition to this, the Fund has been directed to establish an authority that could declare the civil servants ’ assets publicly.
Assets of government officials should be kept public, IMF condition
The International Monetary Fund (IMF) has demanded the establishment of an authority to make the assets of government officials public.
According to FBR sources, the IMF has asked for the details of the foreign assets of the bureaucracy, the demand has been put forward to make public the movable and immovable assets of the bureaucracy abroad, to establish an electronic asset declaration system for transparency and accountability. has been demanded.
Moreover, the assets of the bureaucracy will be checked before opening bank accounts, banks will be able to get information from FBR to open bank accounts, officers of grade 17 to 22 will have to give all the information to open bank accounts.
Similarly, the international lender has asserted to make movable and immovable assets of bureaucrats overseas to ensure transparency and accountability, through an Electronic Assets Declaration System.
The FBR officials said;
“Bureaucrats’ assets will be checked prior to the opening of a bank account, and banks will get information from the FBR for the opening of accounts of bureaucrats.”
The statement further read;
“All 17 to 22 Grade officers have to provide all information before opening a bank account”
Conditions for Pakistan:
Earlier, the Fund had demanded to impose an additional tax of Rs 600-800 billion to revive the $7 billion Extended Fund Facility (EFF) stalled since November 2022. Likewise, the government removed an unofficial cap on the US dollar and raised the fuel prices as per the conditions set by the Fund.
