Pakistan, Aug. 2 -- That governance principle has been codified internationally through the Santiago Principles, the voluntary framework endorsed by the International Forum of Sovereign Wealth Funds, which sets out standards on legal structure, institutional independence, transparent reporting and separation from short-term political or balance-of-payments objectives. The IMF's own guidance, and the conditions it has attached to Pakistan's amended sovereign wealth fund law, echo the same themes: a clear commercial mandate, prohibition on the fund financing routine government spending, prohibition on the central bank lending to it, audited IFRS-compliant accounts, and a board appointed on fit-and-proper criteria rather than political conve...