Pakistan Fulfils Major IMF Requirement Ahead of Executive Board Meeting

Pakistan has completed a major requirement of the International Monetary Fund (IMF) just days before the IMF Executive Board meeting. The Ministry of Finance has officially released the Governance and Corruption Diagnostic Assessment Report, highlighting long-standing issues that continue to damage the country’s economic and social progress.

The report identifies corruption as one of the biggest hurdles to Pakistan’s development. It exposes serious flaws in the tax system, public spending, transparency, and accountability processes. It also points out deep issues within the judicial structure that weaken public trust.

According to the findings, corruption by powerful groups is the most dangerous and harmful for the country. The Finance Ministry states that this decades-old problem continues to slow down national growth, despite Pakistan seeking IMF loans repeatedly over the years.

The report notes that the standard of living of Pakistanis lags behind neighbouring countries due to persistent governance failures. Lack of transparency in government decision-making has been declared a major challenge.

Weak performance of anti-corruption bodies has further damaged the accountability system. The report says inconsistent and selective accountability has reduced public trust in institutions.

The assessment recommends empowering and modernising anti-corruption organisations, including NAB, to ensure transparent governance. According to experts, implementing these reforms could boost Pakistan’s GDP by 5% to 6.5%.

The report also highlights that stakeholders are rarely included in economic policy decisions, which affects policymaking quality. Governance weaknesses, the Ministry adds, create more space and opportunity for corruption.

Overall, the findings warn that corruption continues to block fair competition, reduce tax collection, damage confidence in the judicial system, and make government spending ineffective. The Ministry of Finance stresses that without structural reforms, economic stability will remain out of reach.