A letter of intent (LoI) signed by Pakistan with IMF for the release of US$1.17 million has allowed public access to the asset details of bureaucrats and members of Parliament.
According to the LoI returned to the IMF after being signed by Finance Minister Miftah Ismail and governor State Bank of Pakistan (SBP), the asset details of the bureaucracy in abroad will also be made public.
It said that an electronic asset declaration system will be evolved for ensuring transparency and accountability. The asset details of wife and children of the government official between BPS-17 and BPS-22 will also be published.
The citizens, according to the LoI, will be able to access the asset declaration of the Parliamentarians. “Action will also be taken against bureaucrats hiding abroad assets in their declarations,” the sources privy to the matter said.
Finance Minister Miftah Ismail has announced that Pakistan has sent back the signed letter of intent (LoI) to the International Monetary Fund (IMF).
Speaking to media in Islamabad, Miftah Ismail said that the LoI was sent to the IMF after being signed by him and acting governor of State Bank of Pakistan (SBP).
On August 12, the International Monetary Fund (IMF) agreed to the letter of intent forwarded by Pakistan and returned it to the country for signing it.
The letter of intent was prepared by Pakistan a month back and since then IMF has been satisfied over its points and action plan.