Electronic Asset Declaration System on Cards – Latest News – The Nation

For greater transparency and accountability, an electronic asset declaration system will be introduced through which movable and immovable assets of the overseas bureaucracy will be made public.

Citizens will also be able to access the declaration of assets of parliamentarians.

The federal government decided to give public access to the details of the holdings of parliamentarians and bureaucrats to comply with the terms of the agreement reached with the International Monetary Fund (IMF) by the former PTI regime.

In addition, assets owned by wives and children of employees in grades 17 through 22 would also be made public. Apart from that, the bureaucrats, who have secret assets abroad, would be taken to task.

Sources at the Ministry of Finance said that Pakistan had agreed in the Letter of Intent (LOI) signed in accordance with the agreement with the IMF that details of foreign assets of the bureaucracy would be provided to the people.

The previous PTI government had resisted the demand for mandatory reporting on the grounds that such individuals were already required to submit details of their assets to the Membership Division. However, the IMF did not agree and instead requested Pakistan to file such declarations with the tax authorities.

The IMF was of the view that any important office holder receiving a salary from the budget should disclose their assets to ensure transparency.

However, this government had found a way out where statements filed by members of the armed forces would not be made public, the sources said, adding that the exception was created by the then Minister of Justice, the lawyer Farogh Naseem.

The sources had indicated that the requirement of non-disclosure of asset declarations would not apply to those who were currently exempt from the applicability of the National Accountability Ordinance.

A proviso was likely to be inserted into the Act which would provide that nothing in clause

A person who holds, or has held, any office or position in the service of Pakistan, or any service connected with the affairs of the Federation, or of any province, or of any local council constituted under any federal law or provincial respecting the constitution of local councils, or the management of corporations, banks, financial institutions, firms, enterprises, enterprises or any other institution or organization established, controlled or administered by or under the aegis of the federal government or a provincial government, other than a person who is a member of any of the armed forces of Pakistan, or is currently subject to any law relating to any of the said forces, except a person who is or has been member of said forces and holds, or has held, a position or office in any public corporation, bank, financial institution, firm or other organization established, controlled or administered by or under the authority of the federal government l or a provincial government.

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