IMF 'rejects' request for extension in govt officials asset declaration

ISLAMABAD: The International Monetary Fund (IMF) has rejected Pakistan’s request for an extension on the asset declaration of government officials, ARY News reported citing sources.

According to sources, consultations have begun on a draft aimed at declaring the assets of government officials.

A revised draft of the Civil Servants Act will be presented to the IMF by February, sources revealed. However, legislation related to asset declaration is unlikely to take place until after February, according to government sources.

The IMF’s technical team has held meetings with the Cabinet Division, PM Office, Ministry of Finance, and Ministry of Law. The IMF has demanded that Pakistan complete benchmarking in accordance with the conditions set by the Ministry of Finance.

Under the revised act, government officials will be required to declare their assets, including those of their spouses and children, as well as their sources of income and educational institutions. The declaration will also include details of their power of attorney.

Also read: Finance ministry issues clarification on IMF mission visiting Pakistan

Government authorities have also requested the IMF team to relax the rules for public access to information.

It is important to mention here that the International Monetary Fund (IMF) had demanded Pakistan to amend laws for assets declaration of public servants.

According to the sources at the Federal Board of Revenue (FBR), the IMF insisted on the 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 development came at the time when a team of the International Monetary Fund (IMF) is on Pakistan’s visit to discuss governance reforms and strengthening the anti-corruption mechanism.

The IMF mission that arrived in Islamabad on Feb 6, expected to stay here up to February 14.

The Ministry of Law will brief the IMF team with regard to legislation to curb corruption, sources said.

The mission will also be briefed about enforcement of FATF targets. The IMF delegation will hold meetings with the officials of NAB, judiciary, various institutions and ministries.

The anti-corruption and anti-money laundering measures are also conditions for the seven billion dollars bailout package for Pakistan.