IMF Rejects Pakistan’s Request to Extend Deadline on Asset Declaration by Civil Servants

The International Monetary Fund (IMF) has rejected the federal government’s request for an extension on the deadline for asset declaration by government officials and bureaucrats, Finance Division sources informed ProPakistani. Following this, consultations have begun on drafting amendments to the Civil Servants Act, which will be shared with the IMF before the end of February 2025. Sources in the government have disclosed that legislation for mandatory asset declaration may now be finalized only after February. So accordingly, the government will amend the Civil Servants Act to make asset declarations mandatory for BS-17 to 22 public officials. These declarations will include assets beneficially owned by family members as well. The IMF’s technical delegation has held meetings with officials from the Cabinet Division, Prime Minister’s Office, Ministry of Finance, and Ministry of Law, pressing the Finance Ministry to fulfill the required benchmarks. Under the proposed amendments, government officials will be required to disclose details of their children’s educational institutions and power of attorney holdings as well. Relevant authorities have also requested the IMF to relax conditions related to public access to officials’ asset information, sources added.