Pakistan has assured the International Monetary Fund (IMF) that it will end political interference in anti-corruption entities including the National Accountability Bureau (NAB).
The Memorandum of Economic and Financial Policies issued by IMF states that Pakistan has vowed to enhance the business climate, safeguard public funds, and boost public and donor confidence. The primary focus of this initiative is the reinforcement of institutions to prevent bribery, fraud, and extortion.
The authorities have committed to publishing the full UNCAC report and completing the review of Pakistan’s anti-corruption institutions by a task force with the participation of independent experts.
The government emphasizes the appointment of the NAB chairman based on merit. Additionally, the document highlights the need to define the jurisdiction of NAB for effective investigation. To achieve these goals, the government will form an Anti-Corruption Task Force consisting of experts with international experience, as well as individuals from civil society.
This task force is expected to publish its comprehensive report in March 2024, with assurances given to the International Monetary Fund (IMF) regarding the government’s commitment to combating corruption and enhancing transparency.
The review should identify key corruption vulnerabilities and reform actions to strengthen the independence and effectiveness of institutions (including the National Accountability Bureau, and the anti-corruption investigative agency).
Integration of asset declarations held by the FBR and the AML/CFT compliance functions of banks consistent with best practices would help detect, prevent, and deter the laundering of proceeds of corruption, tax evasion, and smuggling through the financial sector.
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