The government has notified draft amendments to the Sharing of Assets of Civil Servants Rules, 2023, on Wednesday, as part of efforts to fulfill the IMF’s governance reform requirements, according to a news report.Â
The new rules mandate that all public servants in Grade 17 and above across federal, provincial, and local governments, as well as employees of state-owned enterprises, must electronically declare their assets and income for public review through the Federal Board of Revenue (FBR).
However, the rules exempt serving officers of the armed forces from this requirement. The FBR has called for public comments on the draft within seven days to meet the IMF deadline for the implementation of these reforms.
The amendments stipulate that public servants from various government bodies, including autonomous bodies, corporations, and companies owned by the government, will need to file their declarations in a format specified by the State Bank of Pakistan (SBP) and the FBR.Â
While these declarations will not be made publicly accessible, they will be shared securely with the FBR. Banks involved in the process are required to ensure that the data is transmitted via a pre-designated and secure email address under the oversight of their compliance heads.
Banks must also share the contact details of designated focal persons to maintain the confidentiality of the information. The required data will be shared in a summarised form to protect privacy.
The new rules do not apply to individuals exempted under the National Accountability Ordinance, 1999, which includes military personnel unless they hold or have held positions in public corporations or financial institutions controlled by the federal or provincial governments.
