There has been significant progress in the ongoing economic review talks between Pakistan and the International Monetary Fund (IMF), with the government of Pakistan fulfilling another major condition of the IMF.
According to details, the Federal Board of Revenue (FBR) has issued a draft amendment to the rules on assets of civil servants. Under the new amendments, government officers from grades 17 to 22 will be required to declare their assets.
The notification issued by the FBR states that now the definition of public servant will include officers in grade 17 and above. This will include officers of the federal and provincial governments, autonomous bodies and corporations, however, individuals exempted under the NAB Ordinance 1999 will not be included in this circle.
The FBR has asked stakeholders to submit their suggestions or objections within seven days, otherwise the opinions received after the specified period will not be considered.
According to the amended rules, the word “civil” has been replaced with “public”, after which these rules will be applicable to all public servants. According to FBR officials, the aim of this move is to increase transparency, accountability, and administrative clarity.
Economic experts say that transparent reporting of assets will not only restore confidence in institutions but also strengthen the continuity of reforms in the ongoing program with the IMF. According to experts, this decision will also help in modernizing and making the tax system effective.
The FBR clarified that this draft has been prepared under Section 237 of the Income Tax Ordinance 2001 and will come into force officially after its approval soon.
