Pakistan's Urgent Governance Overhaul: A 32-Point Reform Blueprint

The Institute of Cost and Management Accountants of Pakistan recommends immediate governance reforms for Pakistan. The report outlines a 32-point reform spanning fiscal management, taxation, and digital governance, emphasizing transparency and accountability to restore public trust and strengthen economic performance.

In a bid to overhaul Pakistan's governance and bolster economic performance, the Institute of Cost and Management Accountants of Pakistan (ICMA) released a comprehensive report, highlighting urgent reforms. Citing the International Monetary Fund's governance diagnostic, the report presents an actionable reform agenda targeting fiscal, judicial, and digital governance sectors.

The report underscores persistent governance weaknesses undermining growth and investor confidence. ICMA's 32 priority areas include establishing a Parliamentary Budget Office to enhance fiscal oversight and a Revenue Intelligence Unit within the Federal Board of Revenue for tax reform. It also stresses the need for restructuring state-owned enterprises and improving public investment monitoring.

A key focus is combating corruption through a National Anti-Corruption Coordination Council and enhancing digital governance. The roadmap's success hinges on political resolve and coordination among stakeholders, promising a pathway to reducing corruption and achieving sustainable growth, according to The Express Tribune.

(With inputs from agencies.)