Pakistan has signed letter of intent (LoI) with IMF for the release of US $1.17 million, allowed public access to the asset details of bureaucrats and members of Parliament.
After being signed from Finance Minister Miftah Ismail and Governor of SBP (State Bank of Pakistan), as per LoI the asset details of the bureaucracy in abroad will also be made public.
Further it was also confirmed that an electronic asset pronouncement system would be unfolded for transparency and accountability.
However, wife and children asset details of the government official between BPS-17 and BPS-22 will also be published.
The nation, as per LoI would have an access to the asset according to the LoI, will be able to access the asset declaration of the Parliamentarians.
Further as per sources, stern action would be taken against bureaucrats hiding abroad assets in their declarations.
Moreover, it was confirmed through an announcement by Finance Minister Miftah Ismail tha letter of intent (LoI) has been sent back after being signed by him and acting governor of SBP to the International Monetary Fund (IMF).
A month back, The LoI was prepared by Pakistan since then IMF has been agreed and satisfied over its points and action plan.
On 12 August, IMF agreed to the LoI forwarded by Pakistan and returned it to the country for signing it.
