The Ministry of Finance has clarified that the structural benchmarks highlighted under Pakistan’s IMF Extended Fund Facility are not new or sudden conditions. Instead, they are part of a phased and medium term reform plan already agreed with the IMF. The ministry said these benchmarks build on reforms that are already underway and are being implemented step by step.
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The Finance Division explained that the Memorandum of Economic and Financial Policies finalized after the second review of the EFF supplements earlier commitments. It ensures continuity and gradual deepening of reforms across fiscal management, governance, financial markets, state owned enterprises, energy, trade, and corporate regulation. The goal is to strengthen institutions without creating economic shocks.
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Key reforms include improving transparency in civil servants’ asset declarations, strengthening NAB and coordination with provincial anti corruption bodies, and expanding access to financial intelligence under the AML and CFT framework. The government is also easing cross border payments, which helped increase remittances by 26 percent in FY25, with further growth expected.
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The IMF noted that most earlier benchmarks have been met, including budget approval and new tax measures. Some targets were delayed due to floods and implementation challenges. Authorities stressed that reforms remain on track and that the phased approach supports Pakistan’s own economic priorities rather than imposing external conditions.
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