An International Monetary Fund team is preparing to travel to Pakistan next month to carry out the fourth assessment under the country’s $7 billion Extended Fund Facility, according to a report.
Among the key items on the agenda, the IMF review mission will examine the government’s proposed changes to Sovereign Wealth Fund governance. Islamabad has already tabled the Pakistan Sovereign Wealth Fund (Amendment) Bill, 2026 before the Senate, aiming to tighten oversight and build in stronger fiscal protections as part of its commitments to the Fund.
Timeline Still Being Finalized
A senior Finance Division official told media on Thursday that the visit is tentatively planned for September 2026, though a firm schedule has not been locked in yet. Authorities have already moved six amendments to laws governing state-owned enterprises through parliament and are working to finalize legislation covering the remaining three SOEs before August 2026 draws to a close.
The draft amendment to the Sovereign Wealth Fund law, submitted to parliament, is intended to do several things: define the fund’s legal status as a holding company, tighten its governance structure, keep SWF-owned enterprises under the same accountability rules as other state firms, mandate open and competitive processes for asset sales and procurement, and build in additional fiscal safeguards.
Progress on SOE Reporting and Oversight
Most commercially run state enterprises have already rolled out business plans, statements of corporate intent, and financial statements aligned with IFRS standards, following newly issued guidelines. Officials say it’s now essential for the Central Monitoring Unit, which has reached full staffing, to keep a close watch on the accuracy of this reporting. Work is also progressing on public service obligation agreements for the seven largest SOEs, which are expected to be folded into the FY27 budget.
During the visit, the IMF team will also discuss progress on the Governance and Anti-Corruption Diagnostics Assessment Report. In response to that report’s findings, Pakistani officials have rolled out the Prime Minister’s Economic Governance Reform Plan, which lays out 15 specific reform measures complete with performance indicators, deadlines, and monitoring processes.
Authorities have set up an institutional structure to drive this plan forward and have begun coordinating more closely with stakeholders, including civil society groups, through regular dialogue and twice-yearly public reports.
Transparency Measures on the Horizon
Updated Civil Servant Conduct Rules are expected to enable senior federal officials to publish their asset declarations online by the end of December 2026. Additional revisions will outline limits on disclosing sensitive personal details and introduce a risk-based verification system to support the rollout.
To strengthen the National Accountability Bureau’s independence and transparency, the government plans to send amendments to the NAB Ordinance to parliament, reforming how the NAB chairman is appointed. Officials also intend to publish investigation and prosecution guidelines along with annual enforcement data by the end of January 2027.
Separately, the Anti-Corruption and AML/CFT Committee is tasked with developing a framework for assessing corruption risk, which will guide the NAB’s efforts to build an action plan addressing corruption vulnerabilities across government departments by October 2026.
