Prime Minister Shehbaz Sharif has taken a decisive step to fortify Pakistan's financial systems against illicit activities by establishing a high-powered committee. The newly formed body is tasked with spearheading the national fight against corruption and money laundering, a move seen as critical for both economic stability and international compliance.
Composition and Mandate of the New Committee
The committee, comprising 15 senior members, will be chaired by the Federal Minister for Finance and Revenue. Its core mandate is to develop and oversee a robust national strategy to counter corruption, money laundering, and terrorist financing. The formation of this committee is a direct response to the need for a coordinated, whole-of-government approach to these pervasive challenges.
According to the notification issued by the Cabinet Division, the committee's responsibilities are extensive. It will review existing legal and institutional frameworks, identify gaps, and propose concrete measures to enhance their effectiveness. A key focus will be on ensuring Pakistan's full adherence to the recommendations of the Financial Action Task Force (FATF), the global watchdog on illicit finance.
A Strategic Move for Governance and Global Standing
This initiative underscores the government's stated commitment to improving governance and transparency. The persistent issues of corruption and illicit financial flows have long been cited as major impediments to Pakistan's economic growth and foreign investment. By creating a dedicated committee at the highest level, the government aims to signal a serious intent to address these systemic problems.
The committee is expected to work closely with all relevant national agencies, including the Federal Investigation Agency (FIA), the National Accountability Bureau (NAB), and the State Bank of Pakistan. Its formation on January 6, 2026, marks a proactive start to the year for the administration, aligning with its broader agenda of economic reform and improved international credibility.
Implications and Expected Outcomes
The success of this committee will be measured by its ability to translate strategy into actionable results. Observers will be watching for tangible outcomes such as strengthened prosecution of financial crimes, recovery of stolen assets, and demonstrable improvements in Pakistan's anti-money laundering controls. Effective implementation could lead to enhanced cooperation with international partners and potentially better access to global financial markets.
This move is widely interpreted as an effort to not only combat domestic financial crimes but also to safeguard the country's banking sector from being misused for illegal activities. The government hopes that a rigorous anti-corruption drive will foster a more favorable business climate and restore public trust in financial institutions.
As the committee begins its work, its findings and recommendations will be crucial in shaping Pakistan's policy landscape for years to come. The nation awaits a more aggressive and unified campaign against the twin evils of corruption and money laundering.
