Public Sector Enterprises Reform Program (Subprogram 1) (ADB-48065-002)

Countries
  • Pakistan
Where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Development Bank (ADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
C
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Jun 28, 2016
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Sectors
  • Law and Government
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 300.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ ADB website

Updated in EWS Aug 9, 2017

Disclosed by Bank Sep 28, 2016


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Project Description
DESCRIPTION The Pakistan Public Sector Enterprises (PSE) Reform Program will support the efforts of the government to improve the performance of public sector enterprises (PSEs) by improving corporate governance and accountability, and reducing PSE contingent liabilities. The program will facilitate creating fiscal space for critical development expenditures. The two subprograms will be carried out during 2016 -2018. The impact will be reduced net fiscal transfers to PSEs from the federal budget. The outcome will be improved PSE performance. The program has the following outputs: - Output 1: Policies to address labor issues and communication strategy introduced, monitoring system designed, and costs and benefits ascertained. - Output 2: Financial transparency, monitoring, and corporate governance in public sector enterprises improved. - Output 3: Restructuring and reform of selected public sector enterprises initiated. PROJECT RATIONALE AND LINKAGE TO COUNTRY/REGIONAL STRATEGY The program will support the Government's efforts to restructure and privatize selected public sector enterprises (PSEs). Pakistan's PSE sector imposes high fiscal and economic costs constraining investment in the social sectors. Many of Pakistan's PSEs provide critical infrastructure services to the country. While some are profitable, most are poor performers. The Government is implementing an ambitious economic reform agenda to stabilize its finances and put the country on a higher growth path. PSE restructuring is a key component of the program. The ADB program will also facilitate implementing Government's own reform agenda dealing with PSEs. IMPACT Reduced net fiscal transfers to PSEs from the federal budget
Investment Description
  • Asian Development Bank (ADB)
Loan 3398-PAK: Public Sector Enterprises Reform Program (Subprogram 1) Ordinary capital resources US$ 200.00 million Loan 3399-PAK: Public Sector Enterprises Reform Program (Subprogram 1) Concessional ordinary capital resources / Asian Development Fund US$ 100.00 million
Contact Information
ACCOUNTABILITY MECHANISM OF ADB The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main CONTACTS Responsible ADB Officer Mukhopadhyay, Hiranya Responsible ADB Department Central and West Asia Department Responsible ADB Division Public Management, Financial Sector and Trade Division, CWRD Executing Agencies Ministry of Finance SO_ADB_I@EAD_CC.SDNPK.UNDP.ORG Economic Affairs Div. Rm. 308 Block "C" Secretariat Bldg Islamabad, Pakistan