IMF mission briefed on disclosure of government employees’ assets

The International Monetary Fund (IMF) mission was briefed on the disclosure of assets held by government employees during the first day of formal talks between Pakistan and the IMF.

The International Monetary Fund (IMF) mission was briefed on the disclosure of assets held by government employees during the first day of formal talks between Pakistan and the IMF.

The discussions are part of the fourth review of Pakistan’s $7 billion IMF loan programme. Meetings were held with officials from the Federal Board of Revenue (FBR) the Establishment Division and the Finance Division.

According to officials, the FBR briefed the IMF delegation on matters related to customs and income tax. The policy wings responsible for customs and income tax at the FBR also participated in the discussions.

Sources said the IMF mission was additionally briefed on the issue of declaring assets belonging to government employees. The Secretary of the Establishment Division and the Secretary of the Finance Division attended the talks.

The Pakistani side informed the IMF that legislation concerning the assets of civil servants has already been passed. Officials explained that a new Section 15-A has been added to the Civil Servants Act.

Under the new provisions, the government will be able to regulate and monitor the financial conduct of civil servants. Details of the assets declared by government officers will also be made available on a government website according to the briefing.

Government officials from Grade 17 to Grade 22 will be required to disclose their assets publicly under the new framework.

The asset-disclosure issue formed part of broader discussions between Pakistan and the IMF as the two sides began the latest review of the country’s $7 billion loan programme.

The talks involve several areas of Pakistan’s economic and fiscal policies with FBR-related matters and measures concerning government employees among the issues discussed during the opening day.