Pakistan's repeated economic crises are linked not just to financial issues but to poor governance and corruption, says the IMF's Pakistan: Governance and Corruption Diagnostic Report released in November. The report highlights weak institutions, secretive practices, and biased power as core problems undermining economic stability. It finds corruption is normalised due to fragmented authority, weak controls, and politicised appointments across fiscal and judicial systems. National anti-corruption bodies like NAB and FIA are used by ruling elites for political gains, weakening their independence. The judiciary lacks transparency, leading businesses to avoid formal dispute processes. The IMF report recommends reforms like fair procurement, e-procurement, stronger audits, and better policy and investment management. Despite some progress in anti-money laundering efforts, the report questions why reforms have not been firmly established. It stresses the vital role of civil society, media, and citizen oversight as watchdogs to ensure reform implementation and public accountability, roles currently missing from Pakistan’s governance framework. Civil society can enhance transparency, foster public debate, and prevent corruption through community monitoring and advocacy. But for this, Pakistan needs open access to information and protection of civic space. The report warns that weakening transparency, such as reducing asset-declaration rules for lawmakers, threatens trust further. Ultimately, the IMF stresses that true economic recovery depends on stable, rule-based governance and an active, engaged citizenry to demand accountability and integrity from the state. The report calls for a political and civic commitment to rebuild Pakistan's institutions beyond crisis-driven fixes.