ISLAMABAD (Kashmir English): Formal negotiations between Pakistan and the International Monetary Fund (IMF) mission have commenced in Islamabad.
According to media reports, on the first day of talks, the Federal Board of Revenue (FBR) briefed the IMF mission on customs and income tax matters; a briefing was also provided regarding the disclosure of assets by government employees.
Reports stated that the mission was informed that Pakistan has passed legislation concerning the assets of civil servants, with a new Section 15-A added to the Civil Servants Act.
The mission was reportedly told that the government would be able to regulate and monitor the financial conduct of government employees and that details of officials’ assets would be made available on a website; government officers in Grades 17 through 22 will be required to publicly disclose their assets.
Reports added that the IMF reviewed various aspects of the economy during discussions with the Ministry of Finance, the Federal Board of Revenue, the Establishment Division, and the governments of Khyber Pakhtunkhwa and Punjab.
The Formal negotiations will proceed following the return of Finance Minister Muhammad Aurangzeb, who is currently in the UK accompanying the Prime Minister.
