Pakistan’s Finance Ministry has formally clarified that recent policy measures highlighted in the
latest International Monetary Fund review do not constitute new conditions. Officials emphasise
that these initiatives are part of a meticulously structured, phased agenda under the Extended
Fund Facility, agreed upon last year, designed to advance macroeconomic stability and fiscal
consolidation.

In a detailed statement issued on Sunday, the ministry underscored that the reforms currently
under discussion represent a continuation of previously committed benchmarks. “These
measures are neither sudden nor unforeseen,” the ministry noted, “but form an integral part of
the medium-term reform strategy collaboratively developed with the IMF.”

Among the core elements of the programme are the publication of civil servants’ asset declarations, structural reforms within the Federal Board of Revenue, and targeted initiatives in the power sector. All of these measures have been embedded in the IMF framework since the programme’s inception and are
being implemented incrementally in accordance with the phased design of the Extended Fund
Facility.

The ministry also highlighted notable progress on financial indicators. Remittances increased by
twenty-six percent in the last fiscal year following concerted efforts to curtail informal transfer
channels, reflecting compliance with anti-money laundering and counter-terrorism financing
standards established under the programme.

Further, the IMF staff report of May 2025 recommended a comprehensive review of Pakistan’s
domestic bond market to broaden the investor base. This recommendation has been
incorporated as a structural benchmark, alongside government-led reforms in taxation, the
sugar sector, and power distribution, which were conceived domestically before being
harmonised with IMF objectives.

Officials stressed that characterising these measures as “new conditions” misrepresents the
continuous and sequential nature of the reform agenda. The Finance Ministry reaffirmed that the
Extended Fund Facility remains on course, implementing reforms systematically to underpin
sustainable economic growth and institutional strengthening.