The Finance Ministry on Sunday clarified that the International Monetary Fund’s (IMF) Extended Fund Facility (EFF) measures do not introduce new conditions, but align with Pakistan’s ongoing reform agenda.
According to the ministry, the latest Memorandum of Economic and Financial Policies (MEFP) represents a continuation and sequencing of reforms already agreed under the EFF, ensuring structural changes are implemented in a phased, medium-term manner.
Read more : IMF ‘conditionalities’ not new, just execution of passed legislation
The ministry highlighted that reforms cover multiple sectors, including asset declarations for civil servants, enhanced effectiveness of the National Accountability Bureau (NAB), and strengthening provincial anti-corruption bodies, building upon measures introduced in previous reviews.
Key economic reforms under the MEFP also focus on boosting remittances, expanding the local currency bond market, deregulating the sugar industry, and developing a medium-term tax strategy to enhance domestic resource mobilisation.
Read more : IMF Releases $1.2 Billion to Pakistan for Economic Stability
Furthermore, the ministry explained that initiatives such as privatisation of distribution companies (Discos), amendments to the Companies Act, and regulatory compliance reforms are structured as logical steps within Pakistan’s ongoing EFF program, not externally imposed mandates.
The Finance Ministry reiterated that contingency measures to address potential revenue shortfalls, alongside other phased reforms, have been part of the MEFP framework since May 2024, ensuring continuity and alignment with Pakistan’s policy objectives.