IMF demands declaration of Pakistan's public servants' assets

ISLAMABAD: The International Monetary Fund (IMF) has demanded Pakistan to amend laws for assets declaration of public servants, ARY News reported on Thursday.

An IMF mission arrived in Islamabad on January 30 to discuss the stalled ninth review of the $7 billion Extended Fund Facility (EFF).

According to the sources at the Federal Board of Revenue (FBR), the IMF insisting public declaration of the government servants’ assets. The international lender has also demanded details of the overseas assets of the bureaucracy, sources said.

The IMF has also demanded establishment of an authority to make public the government officers’ assets, according to sources.

The lender demanded to make movable and immovable assets of bureaucrats in overseas to ensure transparence and accountability, according to sources. It has demanded to set up an Electronic Assets Declaration System for transparency.

“Bureaucrats assets will be checked prior to opening of a bank account,” sources said. “Banks will get information from the FBR for opening of accounts of bureaucrats.”

“All 17 to 22 Grade officers have to provide all information before opening a bank account,” sources said.

The IMF has asked Pakistan to impose roughly Rs600-800 billion in additional taxes in the second round of talks to revive $7 billion Extended Fund Facility (EFF) stalled for months.

According to details, the Federal Revenue Board held a second round of technical talks with IMF mission, led by Mission Chief to Pakistan Nathan Porter, on the ninth review of a $7 billion loan programme.