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

  • Pakistan
Geographic location 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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Jun 28, 2016
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
  • Law and Government
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 300.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ ADB website

Updated in EWS Jun 26, 2020

Disclosed by Bank Sep 28, 2016

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed 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.


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.


Reduced net fiscal transfers to PSEs from the federal budget

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

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
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.


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:


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
Economic Affairs Div.
Rm. 308 Block "C" Secretariat Bldg
Islamabad, Pakistan

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How it works