Pakistan and the International Monetary Fund (IMF) are continuing virtual economic review talks, with key discussions focusing on digital asset regulations, anti-corruption reforms, and economic contingency planning.
Officials are set to brief the IMF on progress regarding the Virtual Assets Ordinance and broader regulatory framework.
As part of the ongoing Virtual Economic Review, Pakistan will brief the IMF on Virtual Assets Regulations and the Virtual Assets Ordinance.
Officials will inform the IMF about the policy framework, regulatory plan, and progress achieved so far in governing virtual assets.
The discussions aim to ensure that Pakistan’s emerging digital asset ecosystem remains compliant with international financial standards and oversight mechanisms.
Trade-based money laundering, supervision
Another key topic on the agenda is trade-based money laundering and the introduction of risk-based supervision mechanisms.
Officials are expected to explain how regulatory institutions are strengthening monitoring systems to reduce financial crime risks and enhance compliance within the financial sector.
These measures are considered important for improving transparency and strengthening Pakistan’s financial governance framework.
Contingency planning
Sources said work has begun on an alternative economic plan at the IMF’s request, considering the deteriorating regional situation.
The IMF has sought a comprehensive assessment of possible economic impacts, including effects on:
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The overall economy
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Energy supply
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Tax revenues
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Exports and imports
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Structural reforms
Officials said the Ministry of Finance, Ministry of Energy, and Ministry of Commerce are jointly preparing emergency policy measures to address potential challenges.
Governance and anti-corruption reforms
Pakistan has assured the IMF that it will implement 142 reforms under the Governance and Anti-Corruption Framework Assurance. Officials said the government does not currently need to seek technical assistance from the IMF to implement these reforms.
The government has also committed to providing progress reports to the IMF every six months to track implementation and ensure transparency.
IMF reviews e-procurement reforms
Separately, IMF officials held a meeting with the Public Procurement Regulatory Authority (PPRA) to review reforms in government procurement systems.
During the meeting, officials briefed the IMF on the e-procurement framework for government institutions, including the rollout of the Electronic Pakistan Acquisition and Disposal System (e-PADS).
Authorities confirmed that all government procurement will be linked to the e-PADS system starting July 1, 2026.
Govt procurement to be digitized
Officials informed the IMF that a detailed implementation plan has been prepared to introduce e-PADS across all federal agencies.
The system will be integrated with public sector enterprises, tax records, identity databases, and audit systems to improve transparency and oversight.
According to the roadmap:
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By the end of 2027, procurement in all federal government institutions and departments will be linked to e-PADS.
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By the end of 2028, procurement systems in all provincial institutions and departments will also be integrated with the platform.
PPRA officials told the IMF that the authority plans to adopt advanced systems and a new reform framework to improve transparency in public procurement.
As part of these reforms, third-party verification will be mandatory for government procurement contracts exceeding Rs2 billion.
Officials said these measures are designed to reduce corruption risks and strengthen accountability in public spending.
The IMF was also informed that 2,200 government officers have been trained since July 2024 to support the transition to the digital procurement system.
The training program aims to prepare government departments for the implementation of e-PADS and other governance reforms across federal and provincial institutions.
