The International Monetary Fund (IMF) is expected to send its review mission to Pakistan in September 2026 for the fourth review of the country’s $7 billion Extended Fund Facility (EFF) programme.
According to The News, the mission is likely to visit Pakistan next month, although the exact dates have not yet been confirmed by the authorities.
During the review, the IMF is expected to assess Pakistan’s progress on several key reforms, including proposed amendments to the Pakistan Sovereign Wealth Fund (SWF) law.
The government has already introduced the Pakistan Sovereign Wealth Fund (Amendment) Bill, 2026 in the Senate. The proposed legislation aims to improve the fund’s governance, strengthen accountability and introduce additional fiscal safeguards while meeting requirements under the IMF programme.
Under the proposed amendments, the SWF’s role as a holding company will be clarified, while governance and accountability mechanisms will be strengthened. SWF-owned state enterprises will also remain subject to governance standards applicable to other state-owned enterprises.
The reforms further propose transparent and competitive procedures for divestment and procurement.
The IMF mission is also expected to examine Pakistan’s progress on state-owned enterprise (SOE) reforms.
Pakistani authorities have proposed six amendments to laws governing SOEs and are required to advance legislation for the remaining three enterprises by the end of August 2026.
Most commercial SOEs have published their business plans, statements of corporate intent and financial statements prepared in accordance with International Financial Reporting Standards (IFRS).
The Central Monitoring Unit is now fully staffed and is expected to strengthen monitoring of SOE reporting.
Authorities are also preparing public service obligation agreements for the seven largest SOEs, with plans to incorporate them into the FY2026-27 budget.
Governance and anti-corruption measures will also be an important part of the IMF review.
The government has published the Prime Minister’s Economic Governance Reform Plan, which contains 15 reform measures along with performance indicators, deadlines and monitoring mechanisms.
Pakistan is also preparing revisions to the Civil Servants (Conduct) Rules to allow asset declarations of senior federal civil servants to be published online by the end of December 2026.
The revised framework is expected to protect limited confidential personal information while introducing a risk-based mechanism for verifying asset declarations.
The IMF will additionally assess proposed reforms to the National Accountability Bureau (NAB). The government plans to submit amendments to the NAB Ordinance to Parliament, including changes aimed at strengthening the process for appointing the NAB chairman.
The proposed reforms would also require NAB to publish investigation and prosecution rules and annual enforcement statistics by the end of January 2027.
Meanwhile, the Anti-Corruption and AML/CFT Committee is expected to develop a corruption-risk assessment methodology by the end of October 2026. The framework will help identify corruption risks across government agencies and support the development of measures to address them.
The upcoming IMF review will therefore assess Pakistan’s progress across fiscal safeguards, SOE governance, transparency, anti-corruption measures and institutional reforms under the $7 billion EFF programme.
