ISLAMABAD – Pakistan has introduced digital asset declaration requirement for BS-17 to BS-22 officials as part of commitment to key structural reforms directed by International Monetary Fund (IMF).
Under the new rules, government officials will be required to submit digital asset declarations to the Federal Board of Revenue (FBR), which will be made available to the public. These declarations will also need to include assets owned by family members.
IMF’s technical mission, which is conducting a Governance and Corruption Diagnostic Assessment, held virtual discussions with Pakistani officials on matters related to recruitment, salaries, and other governance issues. The visiting dignitaries are also scheduled to visit Pakistan in April and will release its findings by July.
Sharif led government in Pakistan pledged to publish a detailed report on Pakistan’s compliance with the UN Convention Against Corruption by September.
To further strengthen anti-money laundering measures, authorities are working to ensure that banks have access to these asset declarations. The State Bank of Pakistan (SBP) is coordinating with financial institutions to finalize procedures, and the FBR plans to launch a digital portal by September to facilitate timely processing of requests.
These steps are part of Pakistan’s efforts to meet the conditions required for continued access to the $7 billion IMF loan program over the next three years.
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