ISLAMABAD: The International Monetary Fund (IMF) review mission is expected to visit Pakistan next month for the fourth review of the country’s $7 billion Extended Fund Facility (EFF).
The visit is expected to take place in September. However, the exact dates for the IMF mission have not yet been finalised. The talks are likely to focus on Pakistan’s progress in meeting structural and governance commitments under the IMF programme.
The proposed Pakistan Sovereign Wealth Fund (Amendment) Bill 2026 is expected to be among the key issues to be discussed during the review. The bill has already been introduced in the Senate.The proposed amendments seek to strengthen the governance framework of the Sovereign Wealth Fund (SWF). They also aim to introduce additional fiscal safeguards.
Under the proposed changes, the SWF would have a clearly defined legal role as a holding company. State-owned enterprises controlled by the fund would also be required to follow governance and accountability standards applicable to other state-owned enterprises. The amendments further propose transparent and competitive procedures for the procurement and divestment of SWF assets.
Meanwhile, the government is working on changes to laws governing state-owned enterprises (SOEs). Six amendments have been submitted to Parliament. Authorities are also working to complete the remaining legislative requirements concerning three SOEs by the end of August. Several commercial SOEs have already published business plans, statements of corporate intent and financial statements prepared under International Financial Reporting Standards (IFRS).
The Central Monitoring Unit is now fully staffed. It has been tasked with monitoring the quality of financial and corporate reporting by SOEs. The government is also working to include public service obligation agreements for the seven largest SOEs in the federal budget for fiscal year 2026-27.
The IMF mission is also expected to assess Pakistan’s progress on recommendations under the Governance and Anti-Corruption Diagnostics (GCD) assessment. The government has prepared a Prime Minister’s Economic Governance Reform Plan based on key GCD recommendations. The plan contains 15 reform measures. Each measure includes performance indicators, timelines and monitoring mechanisms.
Authorities have also established an institutional framework to oversee implementation. The government has begun consultations with key stakeholders, including civil society organisations. Progress reports are also planned twice a year.
Read also: IMF agrees to cut taxes on sale and purchase of property in Pakistan
