IMF assesses governance, corruption in public sector

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ISLAMABAD:

The International Monetary Fund (IMF) held meetings on Wednesday with officials from the Auditor General of Pakistan (AGP), the Federal Board of Revenue (FBR), and the Securities and Exchange Commission of Pakistan (SECP) to conduct a governance and corruption assessment.

Sources revealed that the IMF mission was briefed on transparency and the audit process in the public sector. The mission was informed that Parliament serves as the highest forum for audit and accountability in the public sector. Additionally, the opposition has the authority to audit government institutions, with the head of the Public Accounts Committee being nominated by the Leader of the Opposition.

FBR officials provided a briefing on digitalization and tax reforms aimed at ensuring transparency in the tax system. Meanwhile, SECP representatives apprised the IMF about measures taken to enhance the ease of doing business in the stock market and corporate sector.

The IMF mission also held meetings with officials from the Ministry of Climate Change and the Ministry of Housing and Works.

Notably, the IMF has been in Pakistan for about a week to conduct a comprehensive governance and corruption assessment. This includes a review of the process for appointing judges, judicial integrity, and judicial independence.

This is the first detailed mission of its kind—Pakistan's Governance and Corruption Diagnostic Assessment—which began on Thursday. The assessment is set to conclude on Friday, government and diplomatic sources told The Express Tribune.

During its stay in Pakistan, the IMF team is meeting with representatives from at least 19 government ministries, departments, and state institutions, including the Judicial Commission of Pakistan and the Supreme Court of Pakistan.

The mission's focus remains on the rule of law, anti-corruption measures, financial oversight, eliminating deeply entrenched vested interests in the state's governance structure, and combating money laundering, according to the sources.