ISLAMABAD: The Asian Development Bank (ADB) is dispatching a reconnaissance mission from 6-24 May 2024 to develop the scope, coverage, and design of the proposed $400 million Accelerating State Owned Enterprise (SOE) Transformation Programme, a Results-Based Loan (RBL), well-informed sources in EAD told Business Recorder.

The main objective of the mission is to meet the relevant government agencies and stakeholders to: (i) conduct seminars for Finance Division, Economic Affairs Division, and other stakeholders on the RBL modality (6-10 May 2024); (ii) discuss with the Government of Pakistan the scope, coverage, and design of the proposed RBL program and accompanying Technical Assistance (TA) needs (6-24 May 2024); (iii) support the Finance Division’s stakeholder workshops on the application of the SOE (Governance and Operations) Act, 2023 and implementation of the SOE (Ownership and Management) Policy, 2023 and sub-policies (workshops to be scheduled during 13-24 May 2024); and discuss and finalize an action plan for TA support to the Central Monitoring Unit (CMU) of the Finance Division (20-24 May 2024).

Transforming ailing SOEs

The Mission will comprise of the following ADB staff: Laisiasa Tora, Senior Public Management Specialist/ Mission Leader, Public Sector Management and Governance Sector Office (SG-PSMG): 6-24 May 2024. Sana Masood, Economist (Public Finance), SG-PSMG: 6-10 May 2024. Thuy Trang Dang, Senior Planning and Policy Specialist, Strategy, Policy and Partnership Department (SPD): 6-9 May 2024. Zain Fawzi, Senior Project Officer (Financial Sector), Pakistan Resident Mission, 6-24 May 2024; and Catherine Debalucos, Project Analyst, SG-PSMG will join virtually.

The Mission’s Terms of Reference (ToRS) will be as follows: (i) support discussions on the implementation of the SOE Act and Policy (including the Director Training Program), operationalisation of the CMU, integration of climate and gender response features and development and implementation and implementation of a roadmap for SOE transformation. Oversee the overall development and potential Disbursement -Linked Indicators (DLIs) for the proposed Result -Based Lending (RBL); (ii) support the discussions on overall SOE fiscal risk management and, in particular, the roll-out of the fiscal risk management model and, presentation of key messages from the fiscal risk report. Lead on development of DLIs related to fiscal risk management; (iii) support the discussions on the SOE Act and Policy, as well as stakeholder consultations on law and policy, transitionary arrangements for the electric database and reform outreach and communication and support the project team in consultations with government agencies; (iv) support discussion on the implementation of the SOE Act and the SOE Policy and support the project team in consultations with government agencies. Lead on the development of DLIs related to the SOE Act 2023; and (v) support discussions on SOE financial performance, SOE transformation, and assist in rolling out the fiscal risk assessment model. Support the development of DLIs relating to SOE transformation.

Copyright Business Recorder, 2024

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