The International Monetary Fund (IMF) has urged Pakistan to change the regulations governing public employees’ asset disclosure.
Federal Board of Revenue (FBR) claimed that the IMF is demanding public disclosure of the assets of public employees. The foreign lender also requested information regarding the bureaucracy’s abroad holdings.
According to the media, the IMF also sought the creation of a body to oversee the disclosure of government officials’ holdings.
To promote transparency and accountability, the lender required bureaucrats working abroad to disclose both their movable and immovable assets. For the sake of openness, it further advocated the creation of an electronic assets declaration system.
As per media sources, “Bureaucrats assets will be checked before the opening of a bank account and Banks will get information from the FBR for the opening of accounts of bureaucrats.”
“All 17 to 22 Grade officers have to provide all information before opening a bank account,” IMF demanded.
In the second round of negotiations to restart the $7 billion Extended Fund Facility (EFF), which had been frozen for months, the IMF also requested that Pakistan charge around Rs600-800 billion in new levies.
