A three-member International Monetary Fund (IMF) mission will visit Pakistan to conduct a Governance and Corruption Diagnostic Assessment under the country's 2024 Extended Fund Facility program, the finance ministry said on Sunday, without specifying dates.
The ministry added that the report will recommend actions for addressing corruption vulnerabilities and strengthening integrity and governance, noting that the findings would help shape structural reforms.
"The focus of the mission will be to examine the severity of corruption vulnerabilities across six core state functions. These include fiscal governance, central bank governance and operations, financial sector oversight, market regulation, rule of law, and AML-CFT," the ministry said in the statement.
Pakistan’s government welcomed the IMF’s technical support, saying the assessment would aid efforts to promote transparency and institutional capacity.
The South Asian country, currently bolstered by a $7 billion facility from the International Monetary Fund (IMF) granted in September, is navigating an economic recovery.
The IMF is set to review Pakistan's progress by March, with the government and central bank expressing confidence about meeting its targets.
Islamabad says IMF mission will visit Pakistan to assess governance, corruption risks
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Islamabad says IMF mission will visit Pakistan to assess governance, corruption risks
- The report will recommend actions for addressing corruption vulnerabilities and strengthening integrity and governance
- The South Asian country, bolstered by a $7 billion IMF facility granted in September, is navigating an economic recovery
Pakistan Super League expands with two new cricket teams sold at record prices
- Hyderabad and Sialkot franchises bought for a combine $12.75 million at PCB auction
- US-based aviation and healthcare group, local real estate consortium among winning bids
ISLAMABAD: Hyderabad and Sialkot will join the eleventh edition of the Pakistan Super League (PSL) as its latest franchises after they were bought for record prices at an auction organized by the Pakistan Cricket Board (PCB) on Thursday.
The PCB had shortlisted 10 bidders for the live auction held at Islamabad’s Jinnah Convention Center on Thursday evening. FKS, an aviation and health care conglomerate based in the US who also run the Chicago Kingsmen team, bought the Hyderabad franchise for a whopping Rs1.75 billion [$6.2 million].
The other winner was OZ Developers, a real estate consortium, which bought the Sialkot franchise for Rs1.85 billion [$6.55 million] at the auction. Both prices were the highest amount paid for a PSL franchise.
“The New Era is here like never before,” the PCB wrote on social media platform X.
“Hyderabad and Sialkot are the two new teams in #HBLPSL!“
Pakistan’s telecommunications giant Jazz and Inverex Group, a leading player in the solar energy sector, were also among the 10 qualified bidders.
The PSL is Pakistan’s premier T20 cricket league which features a mix of local and international players. The league already has six city-based teams which include Karachi Kings, Multan Sultans, Lahore Qalandars, Islamabad United, Peshawar Zalmi and Quetta Gladiators.
PCB will run the Multan Sultans team for the 11th edition before looking for a potential buyer. The previous owner of Multan Sultans, Ali Tareen, announced last month he was walking away from his ownership of the franchise.
The decision came after a bitter public spat between Tareen and the PCB over how it managed the cricket league.
The 11th edition of the league is set to begin from Mar. 26 while the final is expected to be played on May 3, as per the PCB’s schedule.
