Islamabad: Following the identification of governance shortcomings by the International Monetary Fund, a key development has emerged as the prime minister has formed a high-level committee for economic governance systems to strengthen governance reforms.
The federal finance minister has been appointed as chairman of the 15-member committee, which has been established as part of the prime minister’s economic governance reform agenda. The committee will submit its progress and performance reports to the prime minister quarterly.
Members of the committee include the secretary of finance, secretary of law, and secretary of planning, while the secretary of the Special Investment Facilitation Council, secretary of information technology, and secretary of the establishment division are also part of the panel. In addition, the secretary of the Law and Justice Commission and the secretary of the Board of Investment have been included as members.
The committee also comprises the chairman of the Securities and Exchange Commission of Pakistan, the governor of the State Bank of Pakistan, and the chairman of the Competition Commission of Pakistan. Furthermore, the managing director of PPRA, the director general of the Tax Policy Office, and the additional auditor general have been made part of the committee.
The additional secretary of finance will perform secretarial duties for the committee, while the federal ministry of finance will provide full secretarial support to ensure smooth and timely functioning.
It is worth recalling that the Governance and Corruption Diagnostic Assessment report was issued in November 2025, in which the IMF stated that improvements in governance could bring significant economic benefits to Pakistan. According to the report, effective implementation of the governance reform package could increase Pakistan’s gross domestic product by between five and six and a half percent.
