Karachi, December 24, 2025 — The Institute of Cost and Management Accountants of Pakistan (ICMAP) has unveiled a comprehensive and action-driven strategic roadmap aimed at converting the International Monetary Fund’s (IMF) governance diagnostics into practical reforms.
The initiative builds on the IMF’s “Pakistan – Governance and Corruption Diagnostic Assessment” released in November 2025, which highlighted deep-rooted institutional weaknesses affecting economic stability and public trust.
Developed by ICMAP’s Research and Publications Department, the report titled “ICMAP Analytical Review of the IMF Governance and Corruption Diagnostic Report” presents a detailed 32-pillar implementation framework for the Government of Pakistan. The roadmap focuses on strengthening institutions, improving transparency, restoring public confidence, and enabling sustainable economic growth by addressing governance gaps that cost the economy billions of rupees annually.
Unlike conventional policy reviews, ICMAP’s report moves decisively from diagnosis to execution. While fully endorsing the IMF’s findings on fiscal governance, revenue administration, judicial inefficiencies, and weak anti-corruption mechanisms, the review adds a critical missing element: a clear, practical “how-to” plan. It outlines actionable recommendations, assigns institutional responsibilities, and sets phased timelines to ensure measurable progress.
In his message introducing the report, Muhammad Yasin, FCMA, Vice President ICMAP and Chairman of the Research and Publications Committee, described the document as a catalyst for collective national reform. He noted that while the IMF has clearly identified systemic governance flaws, ICMAP’s role is to provide a professional prescription and a workable treatment plan. He reaffirmed ICMAP’s readiness to support the government, IMF, and stakeholders by leveraging its professional expertise for effective implementation.
A key strength of the ICMAP review is its Phased Implementation Matrix, which converts high-level IMF recommendations into a government-wide action plan. The matrix assigns specific tasks to institutions such as the Finance Division, Federal Board of Revenue (FBR), and Securities and Exchange Commission of Pakistan (SECP), with clearly defined short-, medium-, and long-term deadlines. This approach directly addresses Pakistan’s long-standing challenge of translating reform commitments into on-ground results.
The ICMAP Operational Framework is organized around five core pillars:
Fiscal Governance: Proposals focus on plugging revenue leakages and improving budget transparency. Key recommendations include establishing an independent Parliamentary Budget Office, a Public Investment Monitoring Unit, a Revenue Intelligence Unit within FBR, simplified tax reforms, stronger SOE oversight, and a consolidated Debt Management Office.
Rule of Law: To address judicial backlogs and weak contract enforcement, the roadmap calls for specialized commercial courts, digital case management systems, expanded alternative dispute resolution mechanisms, and a national ethics framework with enforceable conflict-of-interest disclosures.
Anti-Corruption: The report proposes creating a National Anti-Corruption Coordination Council to integrate NAB, FIA, and provincial bodies, alongside stronger whistleblower protections and transparent, merit-based appointments of regulatory heads.
Digital and Regulatory Reform: Recommendations include integrating NADRA’s digital identity across government services, establishing a National Business Registry, strengthening digital competition oversight, and enhancing transparency of the Special Investment Facilitation Council (SIFC).
Execution and Monitoring: To ensure delivery, ICMAP suggests a national reform performance dashboard, structured stakeholder engagement, and a proactive public communication strategy.
Overall, the ICMAP Analytical Review is positioned as a vital governance reform tool for Pakistan. It offers a credible, professional, and implementable pathway to meet IMF commitments while laying the foundation for stronger institutions, improved accountability, and long-term economic prosperity.