IMF Imposes New Conditions on Pakistan Under $7 Billion EFF Program

Islamabad — The International Monetary Fund (IMF) has imposed fresh conditions on Pakistan under the $7 billion Extended Fund Facility (EFF) program, including mandatory asset declarations by civil bureaucrats, deregulation of the sugar and wheat sectors, and the publication of a report on money laundering and terrorist financing risks.

According to the IMF’s staff report, Pakistan has also been asked to submit a comprehensive report on incentives aimed at encouraging overseas remittances. To strengthen institutional capacity against corruption, the government has begun preparations to amend the asset declaration system—a structural benchmark due by June 2025—under which the assets of senior federal civil servants will be published on an official website by the end of December 2026.

The scope of asset disclosure will later be expanded to include senior provincial civil servants, while banks will be granted full access to the declared information. Following institution-level risk assessments, the National Accountability Bureau (NAB) has been directed to formulate action plans for 10 public sector entities identified as having the highest corruption risks.

The IMF stated that effective enforcement of laws would help strengthen the stability of Pakistan’s financial system. Pakistani authorities have committed to updating the National Risk Assessment on money laundering and terrorist financing and publishing it by the end of March 2026.

The report also highlights that authorities have prioritized improving risk-based anti-money laundering (AML) supervision, particularly of real estate agents, jewelers, and dealers in precious stones and metals. In addition, it has been decided that the beneficial ownership register under the Securities and Exchange Commission of Pakistan (SECP) will be made digitally accessible by the end of January 2026.

The IMF noted that further efforts are required to assess the macroeconomic impact of trade-based money laundering and to implement effective mitigation measures.

Reiterating its focus on anti-corruption reforms, the IMF emphasized that the planned amendments to the asset declaration framework will play a key role in enhancing transparency, accountability, and financial integrity in Pakistan.