The Ministry of Finance on Sunday said that no sudden or unexpected conditions have been introduced under the ongoing Pakistan’s IMF Extended Fund Facility (EFF) programme, stressing that the current Memorandum of Economic and Financial Policies (MEFP) is a continuation of the government’s pre-agreed reform agenda.

In a statement, the ministry said the reforms being implemented under the International Monetary Fund’s Extended Fund Facility (EFF) should not be viewed as new conditions, but rather as part of a phased plan aimed at ensuring economic stability and sustainable growth.

The ministry said measures such as the public disclosure of asset declarations of government employees, improved performance of the National Accountability Bureau (NAB), access to financial information for provincial anti-corruption bodies, and efforts to boost remittances have been part of the programme since its inception.

According to the ministry, remittances are expected to increase by 26 per cent in fiscal year 2025 and by 9.3 per cent in fiscal year 2026.

The statement added that reforms in the sugar sector, recommendations to promote the local currency bond market, the Federal Board of Revenue’s transformation plan, and the establishment of a Tax Policy Office are also part of the government’s long-term reform strategy.

The ministry further said that the privatisation of power distribution companies, including DISCOs, HESCO, and SEPCO, amendments to the Companies Act and the Special Economic Zones Act, and the imposition of federal excise duty on fertilisers and agricultural pesticides are among the measures included in the agreed reform agenda and are being implemented in phases.

The Finance Ministry emphasised that portraying the current reforms as sudden or newly imposed IMF conditions reflects a misunderstanding of the facts, adding that all measures are being carried out in line with a plan mutually agreed upon by the government and the IMF.