An International Monetary Fund (IMF) mission is expected to visit Pakistan next month to assess progress under the country’s $7 billion Extended Fund Facility (EFF), with proposed reforms to the Sovereign Wealth Fund (SWF) likely to feature prominently in the discussions. The fourth EFF review is expected in September, although the exact dates for the IMF mission have yet to be finalised. The review is expected to assess Pakistan’s progress on structural and governance commitments under the programme. Among the issues likely to attract attention is the proposed Pakistan Sovereign Wealth Fund (Amendment) Bill 2026, which has been introduced in the Senate. The proposed legislation aims to strengthen the SWF’s governance structure and introduce additional fiscal safeguards. It would clarify the fund’s role as a holding company and require state-owned enterprises under its control to follow governance and accountability standards applicable to other state-owned entities. Nepal Floods Death toll reaches 469 as rescuers search for survivors The amendments also propose transparent and competitive procedures for procurement and the divestment of SWF assets. The government has separately submitted six amendments to Parliament covering laws governing state-owned enterprises. Authorities are working to complete the remaining legislative requirements for three SOEs by the end of August. Several commercial SOEs have already published business plans, statements of corporate intent and financial statements prepared under International Financial Reporting Standards. The fully staffed Central Monitoring Unit is responsible for monitoring the quality of this reporting. The government is also working to incorporate public service obligation agreements for the seven largest SOEs into the federal budget for fiscal year 2026-27. The IMF review is expected to cover wider governance reforms linked to recommendations from the Fund’s Governance and Anti-Corruption Diagnostics assessment. Pakistan has prepared a Prime Minister’s Economic Governance Reform Plan based on key recommendations from the assessment. The plan contains 15 reform measures, each with performance indicators, timelines and monitoring mechanisms. Authorities have established an institutional framework to implement the reforms and have started engaging stakeholders, including civil society organisations, through policy discussions and twice-yearly progress reports. Under revised Civil Servants (Conduct) Rules, asset declarations submitted by senior federal officials are expected to be published online by the end of December 2026. Further reforms will provide limited exemptions for confidential personal information and establish a system for risk-based and timely verification. The government also plans to amend the National Accountability Bureau (NAB) Ordinance to improve transparency and strengthen the process for appointing the NAB chairman. The proposed amendments are expected to be presented to Parliament. NAB is also expected to publish its investigation and prosecution rules and annual enforcement statistics by the end of January 2027. As part of wider anti-corruption measures, the Anti-Corruption and AML/CFT Committee is expected to develop a methodology for assessing corruption risks by the end of October 2026. The framework will help NAB prepare an action plan to address corruption risks across government institutions as Pakistan seeks to demonstrate continued progress on governance reforms during the IMF review. Post navigation Petrol price rises by Rs3.81, diesel by Rs3.59 per litre
