ISLAMABAD: The Ministry of Finance has dismissed reports suggesting that new or unexpected conditions have been added to the International Monetary Fund’s (IMF) Extended Fund Facility (EFF) programme.
It clarified that the ongoing measures were part of an already agreed reform agenda.
In an official statement, the ministry said that the reforms outlined in the Memorandum of Economic and Financial Policies (MEFP) were neither new nor suddenly imposed, but rather a continuation of commitments made at the start of the IMF programme.
Describing these measures as “new conditions” reflects a misunderstanding of the programme’s structure, it added.
According to the ministry, the IMF’s country policy framework remains unchanged. The Government of Pakistan had presented its proposed reform policies at the outset of the programme, which were then incorporated into the MEFP and are being implemented in phases. These reforms, the statement said, are essential for macroeconomic stability and sustainable economic growth.
The ministry explained that the EFF represents a medium-term reform strategy, and many of the agreed measures are already under implementation. It noted that introducing additional actions during IMF reviews is a standard practice to help achieve the programme’s final objectives gradually.
Addressing specific concerns, the ministry said that the publication of asset declarations of civil servants has been part of the EFF since May 2024.
Amendments to the Civil Servants Act, 1973, were described as a logical progression toward meeting the agreed structural benchmarks. Similarly, reforms aimed at improving the performance and autonomy of the National Accountability Bureau (NAB), as well as enhancing coordination with other investigative agencies, were agreed upon in earlier reviews.
