This has been a consistent demand by the quasi-religious body Public Affairs Committee (PAC) over the past few months and some civil society organisations.
The president made the announcement at a press briefing last night regarding his trip to Switzerland and updates in a UK court on corruption cases involving businessman Zuneth Sattar.
He has since directed the Anti-Corruption Bureau to conclude investigations on corrupt cases involving Sattar within 21 days.
Meanwhile, the president outlined a number of directives aimed at taming acts of extravagance in Government Ministries, Departments and Agencies.
These include restricting travels, cutting fuel that ministers get by 20 percent, cutting travels to less than three among ministers in the remaining months of the year.