Pakistan to Fix IMF Report Gaps as Mohammad Aurangzeb Confirms Reform Push has become one of the most searched economic stories today as the government moves to secure its next IMF tranche. Finance Minister Mohammad Aurangzeb has confirmed that Pakistan will address every gap highlighted in the IMF’s latest governance and corruption review.
Speaking to Geo News, the finance minister said Pakistan will act on all points identified in the IMF report. He stated that the government will resolve every issue highlighted during the assessment. He expressed confidence that an agreement with the IMF will move forward smoothly. He added that the IMF board’s upcoming decision will decide the next steps.
His comments arrive as Pakistan works to secure the next $1.2 billion disbursement under the $7 billion Extended Fund Facility.
IMF Flags Deep Governance Weakness and Persistent Corruption
The IMF’s Governance and Corruption Diagnostic Assessment warned that corruption continues to damage Pakistan’s economic development. The report said weak institutions harm revenue collection and public spending. It stated that many citizens pay officials to access basic services. It added that funds lost to corruption slow production and block development.
The IMF report said powerful groups and privileged entities influence major economic sectors. It found that these groups obstruct reforms and capture public benefits for private gain.
The assessment pointed to Pakistan’s judicial complexity and significant delays. It said outdated laws and questions about judicial integrity undermine investor confidence. It warned that delayed contract enforcement weakens property rights and discourages economic activity.
The report described the entire justice system as slow and structurally complicated. These weaknesses limit Pakistan’s ability to create a predictable business environment.
A 15 Point Reform Agenda to Restore Investor Trust
The IMF recommended immediate, short term, and long term reforms designed to strengthen governance and curb corruption vulnerabilities. It called for the rapid launch of a 15 point reform agenda.
Key recommendations include ending special privileges given to major public institutions, shifting all government procurement to an e governance system within one year, and enforcing strict parliamentary oversight of government financial powers. The IMF also urged more transparency in policy decisions and open access to fiscal data.
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The Washington based lender acknowledged progress under the EFF. It said Pakistan has stabilised the economy and rebuilt confidence. The next IMF board meeting will determine whether Pakistan receives the upcoming loan tranche.
The finance minister said the government remains committed to completing reforms and fulfilling IMF conditions to support long term economic recovery.
