ISLAMABAD – The Ministry of Finance clarified that ongoing reforms under the IMF Extended Fund Facility (EFF) program are not sudden, but a continuation of Pakistan’s previously agreed economic reform agenda.
According to the ministry, the Memorandum of Economic and Financial Policies (MEFP) outlines steps proposed by the government at the start of the program. These measures are being implemented gradually to ensure long-term economic stability.
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The EFF program reflects a medium-term strategy, with reforms already in progress. These include publishing government employees’ asset declarations, amending the Civil Servants Act 1973, and strengthening accountability institutions such as NAB and other investigative agencies.
Provincial anti-corruption bodies are now gaining access to financial information as part of the AML/CFT reforms. These measures contributed to a 26% growth in remittances in FY2025, with a projected 9.3% increase for FY2026.
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Other ongoing reforms aligned with IMF guidelines include developing local currency bond markets, sugar sector improvements, FBR tax reforms, DISCO privatization, and wider regulatory enhancements, ensuring sustainable economic growth over the medium term.
The ministry emphasized that these reforms are transparent, well-planned, and critical for Pakistan’s stability. Phased implementation ensures consistent progress toward agreed targets while maintaining confidence among investors and international partners.