ISLAMABAD: In order to strengthen public sector performance in Sindh, the World Bank has approved a soft loan of $50 million under the Sindh Public Sector Management Reform project which will improve revenue generation and expenditure management.
The World Bank resident mission in Islamabad announced the SPSMR project will contribute to improved collection of sales tax on services, improved credibility of budget execution and increased timeliness of contract execution.
It consists of public sector management reforms component, with result-based financing linked to incentives to meet disbursement linked indicators ($40m), and technical assistance to support activities for achieving these indicators ($10m).
The project would support institutional development of the Sindh Revenue Board with enhanced staffing, increased automation, and improved auditing practices; and improved management for monitoring, evaluation and increased transparency, WB’s Country Director for Pakistan Rachid Benmessaoud.
Moreover, the European Union has committed about 9 million euros of technical assistance to public finance management reform in Sindh over a five-year period. The EU assistance, with specific interventions to be finalised in close collaboration with the World Bank is likely to provide technical assistance related to achievement of three key public financial management objectives.
