Islamabad:
The International Monetary Fund sent a mission to Pakistan to undertake a complete evaluation of governance and corruption, in particular an examination of the process of appointing judges, judicial integrity and its independence.
The first detailed mission of its genre – evaluation of the diagnosis of governance and corruption of Pakistan – began its work on Thursday. He will conclude the fiscal year on February 14, the government and diplomatic sources said at The Express PK Press Club.
During his stay in Pakistan, the IMF team will meet representatives of at least 19 government ministries, departments and state bodies, in particular with the Pakistan Judicial Commission and the Supreme Court of Pakistan.
The objective of the mission remains on the rule of law, anti-corruption, financial surveillance, eradication of the interests acquired well intensity in the state governance structure and the fight against money laundering , according to sources.
The mission had been scheduled for last year, but it came at a critical time when the judges of the High Court of Islamabad and the Supreme Court of Pakistan raised concerns concerning the process of appointment of judges in the superior judicial power.
The 26th constitutional amendment has made fundamental changes in the process of appointing judges, giving a role to politicians in the selection process.
The sources said that the mission will hold a meeting with the judicial committee next week and discuss the process of appointing judges. He also plans to meet the Supreme Court of Pakistan to make an assessment on integrity and independence – the two areas that are critical.
The mission will finalize its evaluation and its report will be published by July 2025. Under the $ 7 billion agreement, Pakistan is forced to publish the full governance and corruption diagnostic report by July.
Pakistan has also engaged with the IMF that with support for the development of the world lender capacities, it “will undertake an assessment of governance and the diagnosis of corruption to analyze the vulnerabilities of governance and critical corruption and identify reforms priority structural in the future “.
The IMF will meet the National Accountability Bureau to discuss the national anti-corruption strategy, the nature and gravity of corruption, anti-corruption police, including investigation and laundering prosecution money.
“Effective governance executives and independent anti-corruption institutions are essential to overcome the poor development of policies, the attenuation of the undue influence of acquired interests and the maintenance of hard-disputed structural reforms”, according to the IMF.
The IMF said that vulnerabilities and structural challenges in Pakistan remain great. A difficult commercial environment, low governance and a disproportionate role of the hindered state investment, which remains very low compared to peers.
The IMF also meets the financial monitoring unit to assess suspicious transactions reporting the obligatory entities, the dissemination of financial intelligence, resources and the ability to meet these challenges.
Another main objective of the mission is the product of money laundering in domestic corruption and if Pakistan has a risk mitigation strategy and an effective action plan to dominate this challenge.
The mission will meet the national anti-balance authority and will fight against the financing of the authority of terrorism. The sources have indicated that the objective of the discussion will be the product of money laundering in domestic corruption.
A crucial meeting will take place with the ministry of Law and justice to make an assessment on the rule of law. The IMF will make an assessment of the need for any legal reform to ensure the rule of law by the independence of the judiciary, the protection of property rights and the application of contracts.
The mission will have several meetings with the State Bank of Pakistan, some of which have already taken place this week, the sources said. The central bank has given an overview of the main challenges and reform priorities linked to the governance and the anti-corruption of SBP, the banking sector and its supervision.
The legal framework and governance agreements of the Central Bank have also been discussed and other discussions will take place on current laws and any need to modify those to improve governance.
The mission will undertake the organization of the organization of the banking policies, regulatory decision -making; regulatory framework, including for subjects linked to governance; and the regulatory framework for public banks.
The central bank is often considered to protect the interests of commercial banks to the detriment of depositors and the economy. He has not taken effective and significant measures against commercial banks for their involvement in a money laundering scam thanks to the import of solar panels. Banks were also not punished two years ago when they manipulated the price of the American currency against the rupee.
The IMF mission will also request a briefing on banking supervision, organization, resources, information technology systems, legal protection of supervisors and supervision decision -making. It will examine the framework for monitoring corporate governance and transactions with related parties and other subjects linked to governance; Supervision of public banks.
The Islamic Bank and money laundering and the fight against terrorism financing, the bank payment system, the agreement of the government and the banks and the question of the Treasury account will also be under examination, have indicated the sources.
The IMF will have several meetings with the FBR with a main emphasis on the use of asset declaration databases, the supervision of money laundering and preventive measures by companies and non -financial professions designated (DNFBP). The IMF will examine the risks of governance in the development of tax policies and implementation.
A meeting will take place with the Federal Land Commission to assess governance parameters in land management.
He has planned meetings with the Ministry of Climate Change, the Ministry of Housing to ensure that property rights are protected and with the Securities and Exchange Commission of Pakistan. SECP meetings will focus on beneficial transparency on property for businesses and their supervision and preventive measures against money laundering by non -banking financial institutions.
The IMF will meet the department of the auditor general of Pakistan, the division of the establishment to examine its anti-corruption structure for the basic asset declaration system and with the National Disaster Management Authority to Climate Political and Projects.
The IMF will meet the privatization committee to assess public enterprises and various managed funds.
Several meetings are also planned with the Ministry of Finance to have an overview of budget preparation and execution and current reforms; Overview of the functions of the Treasury, including budgetary execution, accounting, TSA, cash management and debt management.
The meeting of the Ministry of Planning will focus on the management of public investment, the public sector development program and public-private partnership agreements
A meeting is also planned with the Ministry of Economic Affairs to discuss external debt, the coordination of debt management with the Ministry of Finance, including the collection and publication of debt data.
