The federal cabinet has approved an amendment to the Civil Servants Act 1973, requiring government officials from BPS 17 to 22 to disclose details of their assets, including those held by their family members, in compliance with a key demand from the International Monetary Fund (IMF).
During a meeting chaired by Prime Minister Shehbaz Sharif on Wednesday, the cabinet endorsed recommendations from its legislative committee, including the proposed asset declaration legislation.
Dawn reported that the amendment to Section 15 of the Civil Servants Act mandates that senior government officials declare both domestic and foreign assets. The move aligns with the government’s broader efforts to enhance transparency and accountability in financial disclosures.
The proposed law, expected to be legislated by February 2025, will ensure that high-ranking public officials’ asset declarations are filed digitally and made publicly accessible while incorporating safeguards for data protection and privacy.
Once the Federal Board of Revenue (FBR) completes its digitalisation process, taxpayers will be required to provide details of their foreign investments and properties abroad.
During the meeting, Prime Minister Shehbaz Sharif emphasized the government’s commitment to sustainable economic growth through enhanced productivity and industrial development. He referred to his recent discussions with IMF Managing Director Kristalina Georgieva in Dubai, stating that she appreciated Pakistan’s progress in implementing the IMF program and achieving key economic indicators.
Additionally, the prime minister directed authorities to devise a strategy to ensure the availability of essential food items at affordable prices, particularly during the month of Ramazan. He underscored that keeping staple goods within reach of the general public remains a top government priority.
On the recommendation of the Ministry of National Education and Vocational Training, the cabinet approved the appointment of Dr. Hassan Al-Amin (BS-21) as Director of the National Institute of Pakistan Studies at Quaid-e-Azam University, Islamabad. It also endorsed the Finance Ministry’s proposal to appoint Tahira Raza as a non-executive member of the State Bank of Pakistan for a five-year term.
Further, the cabinet approved an initial draft agreement between Pakistan and Iraq aimed at eliminating double taxation on income and capital while implementing measures to curb tax evasion. This agreement is part of Pakistan’s broader efforts to strengthen international tax cooperation and compliance frameworks.
