Valuation Expert - REMIT Programme

BackgroundIn August 2023, the IMF’s Public Investment Management Assessment (PIMA) and Climate PIMA Report identified significant weaknesses in asset recording and maintenance across federal entities. The report recommended that the Government of Pakistan (GoP) prepare and publish standardised rules and procedures for ministries to retain, maintain, and disclose information on public assets, alongside the development of unified asset management methodologies. The report recommendations were approved by the Federal Cabinet for implementation.At the request of the Ministry of Finance (MoF), the ASI- REMIT programme supported the drafting of the Public Asset Management Guidelines (PAMGs) in consultation with the Planning Commission and key line ministries. The guidelines established a coherent and uniform framework for the acquisition, management, and disposal of public assets, clarified institutional responsibilities, and introduced accountability mechanisms consistent with international standards. Following approval by the Central Development Working Party (CDWP) and the Executive Committee of the National Economic Council (ECNEC), the PAMGs were disseminated across all federal ministries and divisions.Subsequently, the ASI-REMIT team, in coordination with the Controller General of Accounts (CGA) and MoF, developed standard methodologies for assessing the need of routine and capital maintenance of public assets for major asset classes. These methodologies were formally approved by the MoF and circulated across the federal ministries. Collectively, the PAMGs and associated maintenance methodologies represent a significant step toward institutionalising modern evidence-based and sustainable asset management within Pakistan’s public sector.The results of the pilot will be used to determine if an AI enabled data analytics can be built to use registry data and generate operation and maintenance budgets. The data prepared and collected in a keeping view this potential of synthesising data by analytical software.Activity ContextThe Government of Pakistan, with support from the ASI-REMIT Programme, is implementing the Public Asset Management Guidelines (PAMGs) to modernize federal-level asset management. The second phase involves piloting the registration of legacy assets in selected divisions, operationalising the SAP/FABS Asset Management Module, and preparing an Asset Manual for the Registration of Legacy Assets. The pilot aims to establish a comprehensive central registry of federal assets and support data-driven maintenance and budgeting.Job SummaryThe Government of Pakistan, with support from the ASI-REMIT Programme, is initiating the Pilot Implementation of the Public Asset Management Guidelines (PAMGs) to strengthen evidence-based asset management across federal ministries. The pilot will focus on compiling and valuing legacy assets in two selected divisions, operationalising the SAP/FABS Asset Management Module, and developing a comprehensive Asset Management Manual to guide future implementation across the federal government. The expert will work with the team and provide technical inputs into the development of valuation methodology that is applicable to the major classes of public assets.Responsibilities Review the relevance, efficiency, and effectiveness of deliverables, including the Public Asset Management Manual and pilot asset registry; Review and validate data quality, methodologies, and outputs prepared by the technical team; Provide inputs to the team to develop a scheme of assigning valuation to the major classes of public sector’s legacy assets Provide technical feedback on deliverables to ensure alignment with PAMGs, IMF PIMA recommendations, and international standards.Deliverables,EducationQualifications and ExperienceAdvanced university degree (Master’s or higher) in Economics, Finance, Accounting, Asset Valuation, or a related field.Professional certification such as Chartered Valuation Surveyor (RICS), Chartered Accountant (CA), CFA, or equivalent will be an advantage.ExperienceMinimum 8–10 years of relevant professional experience in asset valuation, public sector accounting, or infrastructure/fixed asset management.Demonstrated expertise in developing and applying valuation methodologies for public or large-scale institutional assets.Experience in reviewing data quality, validating methodologies, and assessing efficiency and effectiveness of valuation deliverables.Familiarity with international valuation standards (IVS) and best practices related to public sector asset management.Prior experience working with government agencies, finance or planning ministries, or development partners is desirable.ReportingThe consultant will report to the REMIT Team Lead and REMIT Macroeconomic Governance Component Lead.LOE: 06 daysApplication deadline - Tuesday 25th November at 5pm PKT.