Pakistani bureaurcrats’ assets made public, demands IMF.

ISLAMABAD: In order to enhance openness and accountability, the International Monetary Fund (IMF) has demanded that assets owned by Pakistani bureaucrats be made public.

Pakistan is aiming to reach a staff-level agreement with the IMF on the ninth review under the $7 billion Extended Fund Facility, so the cash-strapped South Asian nation is sending a delegation there to meet with government representatives (EFF). Since September of last year, the ninth review has been pending.

According to sources, the IMF imposed the need when speaking with the government. In order to make the assets of government officials public, it has necessitated the creation of an authority and an electronic asset declaration system.

The international lender has also requested information regarding the officers’ holdings, both in Pakistan and overseas. Additionally, it said that before opening their bank accounts, officers in grades 17 through 22 should have their assets reviewed.

IMF Resident Representative for Pakistan Esther Perez Ruiz had stated in a statement prior to the delegation’s visit that the mission would concentrate on policies to increase Pakistan’s domestic and external sustainability, including steps to enhance the fiscal situation, revitalise the power industry, and stabilise the foreign currency market. In order to eliminate uncertainty and assist Pakistan’s sustainable growth, she also emphasised the significance of stronger policy measures and reforms.