Islamabad, May 12 (ANI) — The International Monetary Fund has pressed Pakistan to take immediate and tougher action against trade‑based money laundering and other opaque financial flows ahead of the federal budget for fiscal year 2026–27, Samaa TV reported.
The IMF flagged suspicious activity in several areas — trade channels, the banking system, real estate and non‑financial businesses — and urged authorities to seal laundering “black holes” while budget plans are being prepared. It said the country’s systems for sharing beneficial‑ownership information are weak and recommended strengthening oversight across the financial sector.
Inspectors noted shortcomings in how suspicious transactions are tracked and reported by banks and non‑financial entities, and called for more robust reporting from Designated Non‑Financial Businesses and Professions (DNFBPs). The fund expressed particular concern about low levels of suspicious‑activity reporting in the property market and described the DNFBP framework’s performance as unsatisfactory.
Pakistan’s Federal Board of Revenue has put in place arrangements to monitor real‑estate deals and forward dubious reports to the Financial Monitoring Unit, and the FBR has intensified probes into alleged undeclared income. Authorities have conducted raids on housing societies as part of efforts to uncover hidden wealth and improve compliance in the property sector.
An IMF mission is due to arrive to finalise budget proposals. Talks with the Finance Ministry are scheduled to begin tomorrow and are expected to run about a week. Officials will discuss tax revenue targets, fiscal planning, development spending and measures to keep government outlays in line with budget objectives.
(This item is based on a syndicated feed and is published as received. The Tribune does not assume responsibility for its accuracy or completeness.)
