Pakistan: Fifth Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility and Request for Waiver and Modification of Performance Criteria
IMF Staff Country Reports, June 23, 2003
Source details
- Canonical URL
- Pakistan: Fifth Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility and Request for Waiver and Modification of Performance Criteria
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Bibliographic details
- Published: June 23, 2003
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451830576.002
Summary findings
- The paper examines Pakistan’s Fifth Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF) and Request for Waiver and Modification of Performance Criteria.
- Although most reforms were broadly on track, there were setbacks in energy sector reforms, and to a lesser extent in privatization.
- Progress was made in preparing the full Poverty Reduction Strategy Paper and monitoring intermediate social outcomes.
- All quantitative performance criteria for end-December 2002 were met.
Sectoral reform issues
- Energy sector:
- Setbacks occurred in energy sector reforms (no further numeric detail provided in source).
- Privatization:
- Progress was weaker relative to other reform areas; setbacks noted to a lesser extent than in energy.
Social policy and poverty reduction
- Poverty Reduction Strategy Paper (PRSP):
- Progress was made in preparing the full Poverty Reduction Strategy Paper.
- Monitoring of intermediate social outcomes advanced (no further numeric detail provided in source).
Fiscal performance and budget outlook
- Performance criteria:
- All quantitative performance criteria for end-December 2002 were met.
- Budget 2003/04:
- The budget for fiscal year 2003/04 will aim at a further reduction of the fiscal deficit while raising social and poverty-related expenditures.