Published on, Aug. 19 -- August 19, 2025 11:54 AM

The International Monetary Fund (IMF) has asked Pakistan to remove the finance secretary from the State Bank of Pakistan (SBP) board and immediately fill two vacant deputy governor positions to strengthen institutional independence.

The lender has also recommended amending the Banking Companies Ordinance of 1962 to remove the federal government's authority to instruct SBP to inspect commercial banks, further reducing state influence over financial regulation.

In its Governance and Corruption Diagnosis Mission report, the IMF stressed that these reforms would ensure stronger autonomy at the central bank, even though the government remains the sole shareholder of SBP.

Previously, in 2022...