The Ministry of Finance has clarified that the reforms being implemented under the IMF’s Extended Fund Facility (EFF) programme are not “abrupt,” but rather a continuation of reforms previously agreed upon.
In a statement, the ministry said the Memorandum of Economic and Financial Policies (MEFP) outlines measures that were proposed by the Government of Pakistan at the outset of the programme. These reforms are being introduced gradually through the IMF review process to support long-term economic stability and sustainable growth.
The ministry emphasized that the EFF represents a medium-term reform framework, with several initiatives already in progress. These include the publication of asset declarations of government employees, structural amendments to the Civil Servants Act, 1973, and efforts to strengthen institutions such as the National Accountability Bureau (NAB) and other investigative bodies.
Provincial anti-corruption bodies gaining access to financial information is also part of the AML/CFT reforms included in the EFF. As a result of these efforts, remittances grew by 26% in FY2025, with a projected 9.3% increase in FY2026.
Other ongoing reforms aligned with the IMF framework include the development of local currency bond markets, sugar sector reforms, FBR tax reforms, privatization of DISCOs, and broader regulatory improvements. The ministry stated that the recent MEFP measures are a natural progression of the agreed agenda and should not be considered sudden or unexpected conditions.
The government reaffirmed that all reforms under the EFF are transparent, planned, and critical for Pakistan’s economic stability, with phased implementation ensuring consistent progress toward agreed targets.
Source: Dunya News
