Pakistan’s Cabinet Approves IMF-Mandated Asset Declaration for Bureaucrats

Islamabad, Pakistan (February 13, 2025) – The federal cabinet, under the leadership of Prime Minister Shehbaz Sharif, has approved a key amendment to the Civil Servants Act 1973, making it mandatory for bureaucrats from BPS 17 to 22 to declare their assets, including those owned by their family members.

The decision, taken in response to International Monetary Fund (IMF) requirements, aims to enhance transparency and accountability. The amendment to Section 15 of the Act will require government officials to disclose both domestic and foreign assets. Additionally, once the Federal Board of Revenue (FBR) completes its digitalization process, it will be mandatory for all taxpayers to report overseas investments and properties.

The government is expected to enact this legislation by February 2025, ensuring that the asset declarations of high-ranking officials are publicly accessible while maintaining data protection safeguards.

Key Cabinet Approvals

The cabinet also approved a new interfaith harmony policy, designed to promote religious tolerance and reduce sectarian divisions. Measures include dialogues, public awareness campaigns, and stricter action against hate literature.

Additionally, the cabinet approved:

• The appointment of Laila Ilyas Kalpana and Satwant Kaur as members of the Evacuee Trust Property Board.
• Dr. Hassan Al-Amin as Director of the National Institute of Pakistan Studies at Quaid-e-Azam University.
• Tahira Raza as a non-executive member of the State Bank of Pakistan for five years.

In economic discussions, PM Shehbaz Sharif highlighted Pakistan’s progress under the IMF program, citing his recent meeting with the IMF Managing Director in Dubai. The prime minister also reaffirmed Pakistan’s support for Palestine, condemned the Libya boat tragedy, and denounced Israeli Prime Minister Netanyahu’s statements.

Additionally, the cabinet approved a draft convention with Iraq to eliminate double taxation and prevent tax evasion.

Economic and Social Welfare Measures

The prime minister directed authorities to ensure the availability of essential food items at affordable prices during Ramadan, underscoring the government’s commitment to economic relief for citizens.

Source: Dawn