IMF sets 11 new structural benchmarks for Pakistan
The International Monetary Fund (IMF) has imposed 11 new structural benchmarks (SBs) on Pakistan, expanding the scope of required reforms across taxation, governance, financial markets, state-owned enterprises, and trade policy as part of its latest review under the Extended Fund Facility (EFF) and the Resilience and Sustainability Facility (RSF), Business Recorder reported.
The Fund confirmed that eight of 13 previous benchmarks were met, including approval of the FY2026 budget in line with programme targets, implementation of agricultural income tax, and legislative amendments to strengthen asset declaration rules for public officials.
The IMF requires Pakistan to finalise a detailed tax-reform roadmap by December 2025, covering key priorities, staffing needs, timelines, estimated revenue impact, and KPIs such as audit numbers and digital invoicing coverage.
By March 2026, Pakistan must implement at least three priority reforms agreed with the IMF staff to enhance the Federal Board of Revenue's effectiveness.
By December 2026, Pakistan must also publish a comprehensive 3 - 5 year tax reform strategy, including sequenced policy and legal changes, governance structures, and resource requirements to strengthen predictability of tax revenue.
Source: Profit by Pakistan Today
