Islamabad: There has been progress in the ongoing economic review talks between the Pakistan government and the International Monetary Fund (IMF), with the government implementing another important condition of the IMF.
According to details, the Federal Board of Revenue (FBR) has issued a draft amendment to the rules related to the assets of civil servants. Under the new amendments, officers from grade 17 to 22 will be required to declare their assets.
According to the FBR, the new definition of public servant will include officers in grade 17 and above. This definition will also include officers of federal and provincial governments, autonomous bodies and corporations, however, individuals exempted under the NAB Ordinance 1999 will not be included in this category.
In its notification, the FBR has sought suggestions and objections from the relevant stakeholders within seven days. The organization has clarified that suggestions received after the stipulated period will not be considered.
The word “civil” has been replaced with “public” in the amended rules, after which these rules will now be applicable to all public servants. According to the FBR, the aim of this move is to increase transparency and administrative clarity so that the system of exchange of asset declarations can be made more effective.
Economists say that this step of the government will promote transparency and accountability in institutions along with fulfilling the conditions of the IMF. According to them, these reforms will be helpful for fiscal discipline and policy stability on a long-term basis.
According to the FBR, this amendment draft has been prepared under Section 237 of the Income Tax Ordinance 2001.
