Pakistan begins scrutiny of high-ranking officers' assets

ISLAMABAD: Pakistan’s intelligence agency has begun acquiring details of the government officials’ assets along with information regarding their relatives to meet an International Monetary Fund (IMF) condition, ARY News reported, citing sources.

The Federal Board of Revenue (FBR) has given the task to the intelligence agency to investigate the assets of grade 20, 21, and grade 22 government officials to meet the IMF conditions as Pakistan aims to secure a fresh deal with the global lending institution, as per sources.

In this regard, the agency has started acquiring information from the government officials’ offices and relatives.

According to sources, the authorities aim to gauge the honesty and integrity of the government officers. The investigation agency will compile a report which will divide the officials into three categories i.e., A, B, and C according to the report findings.

The officers, falling under categories A and B will be posted on position according to the report’s findings while those falling under category C will not be considered for important positions.

Read more: Pakistan chalks out initial plan for new IMF loan agreement

The category C officers would also risk losing their jobs while the report will also be used for future promotions, sources revealed.

Sources had earlier said that the federal government planned to sign a deal for a loan programme likely to span three or more years and will be worth around $6 billion to $8 billion.

The government was reportedly aiming to bring around 3.1 million retailers into the tax net to further expand the country’s tax framework. Moreover, reforms will also be introduced in the FBR.

A day earlier, Prime Minister Shehbaz Sharif said that Pakistan needed another loan programme from the IMF to stabilise its economy.

Addressing a ceremony in Islamabad on Tuesday, he said the government is compelled to enter into a new IMF deal for the purpose of stability.

He, however, said that along with the IMF programme, the government will focus on fostering growth, creating job opportunities and addressing the issue of inflation.