ISLAMABAD, 28 AUG (DNA) — The International Monetary Fund (IMF) review mission is scheduled to visit Pakistan next month to conduct the fourth review of the country’s $7 billion Extended Fund Facility (EFF). The review mission will inquire about the proposed legislation on the Sovereign Wealth Fund (SWF). The government has introduced the Pakistan Sovereign Wealth Fund (Amendment) Bill, 2026 in the Senate to revise governance and increase fiscal safeguards in order to fulfil IMF conditions.
The authorities have submitted a draft SWF Law amendment to parliament. These amendments clarify the legal mandate of the SWF as a holding company, strengthen SWF governance, ensure that SWF-owned SOEs remain under the same high-quality governance structures and accountability standards as all other SOEs, require transparent and competitive procedures for divestment and procurement, and introduce key fiscal safeguards.
Most commercial SOEs have published business plans, statements of corporate intent and IFRS-compliant financial statements, in line with recent manuals and guidelines. It is critical that the Central Monitoring Unit, which is now fully staffed, exercises close surveillance over the quality of this reporting. Progress is under way on preparing and incorporating the public service obligation agreements for the seven largest SOEs in the FY27 budget.
The IMF, in its upcoming review mission, will hold parleys on the implementation of the Governance and Anti-Corruption Diagnostics (GCD) Assessment Report. Pakistani authorities have published the Prime Minister’s Economic Governance Reform (EGR) Plan based upon the key GCD recommendations. The EGR sets out 15 reform actions with key performance indicators, timelines and monitoring modalities. — DNA
