In order to meet the heavy demands of the IMF to revive a stalled program, the federal government has made it mandatory for all government officials of grade 17 and above to declare their assets.
A notification in this regard was also issued by the Federal Board of Revenue (FBR).
According to the notification, the government has also asked public servants to submit details of their overseas assets along with their families. “All 17 to 22 Grade officers have to provide all information before opening a bank account,” the notification read.
The development came after the International Monetary Fund (IMF) demanded Pakistan amend laws for the assets declaration of public servants Officers.
The IMF also demanded the establishment of an authority to make public the government officers’ assets, according to sources. The IMF has asked Pakistan to impose roughly Rs600-800 billion in additional taxes in the second round of talks to revive the $7 billion Extended Fund Facility (EFF) stalled for months.
Prime Minister Shehbaz Sharif while chairing an apex committee in Peshawar said that the International Monetary Fund (IMF) was giving Pakistan “a Tough time” for unlocking stalled $7 billion loan programme.
Premier said “As we all know, an IMF delegation is in Islamabad for holding talks on the stalled loan program and giving a very tough time to the finance minister and his team,”
Premier said, “Our economic situation is unimaginable” adding “You all know we are running short of resources,” Sharif said, adding Pakistan “at present was facing an economic crisis that’s beyond imagination.”
Remember that, Pakistan is currently in talks with the IMF delegation that arrived in Islamabad on 30th January 2023 to discuss the stalled ninth review of the 7 Dollars billion Extended Fund Facility (EFF).