International Monetary Fund (IMF) has expressed serious concerns over issues discouraging foreign investment in Pakistan, including judicial performance, enforcement of contracts, and protection of property rights.
The concerns were shared during a meeting between the IMF mission and President of the Supreme Court Bar Association, Mian Rauf Atta. A joint statement was issued following the meeting.
Ongoing discussions are being held between the IMF mission and key stakeholders in Pakistan. The recent meeting was also attended by Mir Attaullah Langau, President of the Balochistan High Court Bar, and Barrister Sarfraz Metlo, President of the Sindh High Court Bar.
According to the statement, the meeting focused on issues surrounding judicial efficiency. The IMF mission highlighted that weaknesses in judicial performance and legal enforcement are discouraging foreign investment.
President Rauf Atta briefed the IMF delegation on reforms aimed at improving judicial performance, including new legislation and digital advancements such as video link facilities. He also informed the mission about the Chief Justice of Pakistan’s efforts, including the introduction of an e-filing system to enhance court efficiency.
The IMF was also briefed on the objectives of the 26th Constitutional Amendment, which aims to strengthen judicial independence. Additionally, a performance evaluation system for judges is already in place.
Both parties agreed that resolving these issues requires political and economic stability, as well as good governance.
The IMF mission plans to send a detailed questionnaire to the bar associations. In response, the associations will provide comprehensive answers, recommendations, and policy suggestions.
Meanwhile, the IMF delegation also held meetings with officials from the Cabinet Division to discuss anti-corruption efforts and capacity building. A separate technical session was held with FBR officials to discuss the Revenue Mobilization Initiative, expansion of the tax net, and strategies to improve tax collection. The IMF has completed its assessment, and the final report is expected to be released in July.
