ISLAMABAD: The International Monetary Fund (IMF) has deployed a mission to Pakistan for a comprehensive review of governance and corruption, including an evaluation of judicial appointments, judicial integrity, and independence.
The Pakistan Governance and Corruption Diagnostic Assessment, the first of its kind, commenced on Thursday and will conclude on February 14, according to government and diplomatic sources cited by The Express Tribune.
During its stay, the IMF team will engage with representatives from 19 ministries, departments, and state institutions, including the Judicial Commission of Pakistan and the Supreme Court. The mission will focus on rule of law, anti-corruption measures, financial oversight, and dismantling entrenched vested interests within governance structures.
Originally planned for September last year, the mission arrives at a crucial time, coinciding with concerns raised by Islamabad High Court and Supreme Court judges regarding judicial appointments. The recently enacted 26th Constitutional Amendment has significantly altered the selection process for judges by introducing a role for politicians.
The IMF will meet with the Judicial Commission next week to discuss the appointment process and plans to assess judicial integrity and independence—two critical factors in governance. The mission’s findings will be compiled in a report set for publication in July 2025, fulfilling Pakistan’s commitment under the $7 billion IMF agreement to release the full Governance and Corruption Diagnostic report.
As part of its review, the IMF will hold discussions with the National Accountability Bureau (NAB) on Pakistan’s anti-corruption strategy, law enforcement mechanisms, and efforts against money laundering. The mission will also engage with the Financial Monitoring Unit to assess the country’s system for reporting suspicious financial transactions.
A key area of scrutiny is the laundering of proceeds from domestic corruption and Pakistan’s risk mitigation strategies. The IMF will consult the National Anti-Money Laundering Authority and the Combating Financing of Terrorism Authority to evaluate measures taken to counter illicit financial activities.
Another critical meeting is scheduled with the Ministry of Law and Justice to assess the rule of law and potential legal reforms aimed at strengthening judicial independence, property rights, and contract enforcement.
The State Bank of Pakistan (SBP) is also under review, with discussions already underway regarding governance challenges, anti-corruption reforms, and regulatory oversight in the banking sector. The IMF is particularly interested in the SBP’s supervisory framework for commercial and state-owned banks, its handling of money laundering cases, and past instances of currency manipulation by banks.
The mission will further assess Pakistan’s tax governance, land management policies, corporate transparency measures, and asset declaration systems for bureaucrats. Meetings are scheduled with the Federal Board of Revenue (FBR), Securities and Exchange Commission of Pakistan (SECP), and the Federal Land Commission, among others.
Additionally, the IMF will review governance risks in tax policymaking, public investment management, and fiscal oversight. Discussions with the Finance Ministry will focus on budget preparation, execution, and debt management, while the Ministry of Economic Affairs will brief the team on external debt and coordination with the Finance Ministry.
Pakistan’s compliance with international anti-corruption standards and its institutional framework for governance reforms remain central to the IMF’s assessment. The findings of this mission will play a key role in shaping future economic and governance reforms under Pakistan’s IMF program.
