I

nter
nat
ional
agenci
esandt
hei
rrol
einPaki
staneconomy
1.I
MF(
Int
ernat
ional
monet
aryf
unds)
TheInt
ernati
onalMonetaryFund(IMF)i sanorgani
zati
onCr eatedin1945,theIMFisgoverned
byandaccountabl
et othe189count ri
esthatmakeupi tsnear-
globalmember shi
p.I
twor ksto
fost
erglobalmonetar
ycooperati
on, secur
efinanci
alstabi
li
ty,f
acil
it
ateint
ernati
onalt
rade,
promotehighemploymentandsust ainabl
eeconomi cgrowth,andreducepov er
tyar
oundt he
worl
d.

TheIMF's 
pri
marypur
pose istoensur ethestabil
i
tyoftheinter
nationalmonetar
ysyst
em—t he
syst
em ofexchanger
atesandi nternati
onalpaymentsthatenablescountri
es(andt
heirci
ti
zens)
totr
ansactwit
heachother.TheFund' smandat ewasupdat edin2012t oi
ncludeal
l
macroeconomicandfi
nancialsectorissuesthatbearonglobalstabil
it
y.

Paki
stanj
oinedI
MFi n1950asnewl
yest
abl
i
shedcount
rywasf
aci
ngf
iscal
probl
emssi
ncei
ts
cr
eati
onin1947from Br
it
ishI
ndi
a.
I
n1958, f
orthef i
rstt
ime,Paki
stanwenttoIMFforbail
out
.Forthi
s,IMFlentout 
US$25,000 t
o
Pakistanonst andbyarr
angementbasison8December1958. Paki
stanagainwentt oI
MFi n
1965.Thistime, I
MFgav e 
US$37,500 
towar-t
ornnati
onon16Mar ch1965. 
Threey ear
slater
,
Pakistanagainwentt oI
MFf orthi
rdti
mef orbal
anceofpaymentprobl
emsf orwhichIMF
gave US$75,000 on17October1968.
In1971,Paki
stanlostitsEasternhalf
, 
EastPakistan,inawaragai nst 
Indi
a.Thiswarcaused
hugelosestoPakistan.Forwhi ch,
Pakistangotloanof  
US$84,000 i
n1972,  
US$75, 000 in1973
andanotherof 
US$75, 000 i
n1974t omeeti tsgrowingneeds. 
In1977, anotherstandby
arr
angementof  
US$80, 000 
wasmadeonur gentbasis. 
Thr
eey earslater,
anext endedf aci
li
ty
of 
US$349,000 
wasr eachedi n1980.StruggleofPakistancontinued,asPakistanwi thdrawn
another
 US$730,
000  asPakistanwasalreadypar tofUScoldwaragai nst Sovi
etUni on.
Anotherer
awasst arted,
asdemocr acycamebackt oPakistanbutoldwaystohandleeconomy
poorl
yconti
nued. 
BenazirBhut t
o gover
nmentwi t
hdrawn US$194,480 
asstandbyar
rangement
andanother 
US$382,410 i
nshapeofst ructur
aladj
ustmentf aci
l
itycommitmenton28
.
December1988. In1990,gov er
nmentof  NawazShari
f 
decidedagainstgoi
ngtoIMFinstead
arr
angeddonati
onsf rom f
riendlycountr
iesli
ke 
SaudiArabia.
In1993, BenazirBhut t
o againcamet opowerandhergov er
nmentagainwentt oIMFand
reachedanagr eementt ogetst andbyarrangementof 
US$88,000 
on16Sept ember1993.  Poor
handlingofeconomycont inuedbyhergov ernmentasshegotloanof US$123,200 underthe
extendedf undf aci
l
ityandanot her US$172,200 
wereborr
owedon22Febr uary1994. Dur
ingthat
periodeconomyofPaki stanremainedinpoorshapeandPaki stanhadtogot oIMFagai nf or
recordthir
di ntheper i
odofBhut t
ogov ernment.
 Somesay ,
thi
swast he 
mostcor rupt
government  i
nt he 
historyofPakistan.Thisti
mePakistangotanamountof  US$294,690 on13
December1995.
In1997, 
NawazShar i
f 
cametopower .
 BenazirBhutto 
gov
ernmentwassackedonthecor
rupti
on
chargesandlef
teconomyofPaki st
aninwor stshape.Shari
fgov
ernmentwenttoI
MFonur gent
basi
sf ort
hefir
stti
meandr eachedanagr eementt ogett
woamounts
of 
US$265,370 
and US$113,
740 onOctober20, 1997.
In2018,  
ImranKhan became  Pri
meMi nisterofPaki st
an.From start,
Pakist
anhada
l
arge balanceofpayment  defi
citandits 
foreignreserves wereonlygoodenoughf ort
womonths.
Forthis,theyar
rangedf ri
endlyloansfrom  SaudiArabia,
 Unit
edAr abEmirat
es and 
China 
to
avoi
dt oughI MFcondi t
ions. 
In2019,wheneconomi cconditi
onswor sened,t
heywentt oI
MFfor
twenty-secondti
meandgotal argestloani nhi
storyof  
US$1bill
ion.
 I
MFgav eloanbasedon
conditi
onssuchashi keinenergytarif
fs,remov alofenergysubsidy,incr
easeintaxat
ion,
pri
vati
zat i
onofpubli
cent iti
esandf i
scal adjust
ment stot hebudget.
Normal l
y,
 I
MFsignscont ractswi t
hourGov ernmentt hatisbasedonmacr oeconomi cpol i
cies
(f
iscalandmonet ary), 
i
nf l
ati
ont arget i
ngpol i
cies,f
inancialderegul
ationandi ncreasedopenness
tointer
nati
onal 
capital f
lows, tr
adel iberali
zati
on( i
ncludingreducti
onoft ari
ffandnon- tari
ff
barri
ers)andpri
vatizationofpubl i
c- sectorent er
pri
ses.hev alueofrupeei sfall
ingdownev ery
otherdayanditwi l
llosei t
sv aluemor e,inreturnwewi llseetheincreaseinthei nfl
ati
onr ate.So,
getreadytofaceagr eatdepr eci
ation.Thef i
scaldefici
tisaboutt ohitmor ethansixper centof
GDP.

Posi
ti
veEf
fectofI
MFLoan:
 Easet
hepr
obl
emsofBOP 
byst
abi
l
izi
ngt
hef
orei
gnexchanger
eser
ves
 Set
tl
esi
nter
nat
ional
impor
tbi
l
ls
 Pr
ovenhel
pful
forenhanci
nggov
ernmentr
evenuebyi
ncr
easi
ngt
henew 
taxcul
tur
e.
 Reducest
heunnecessar
yexpendi
tur
esoft
hegov
ernment
 I
mpr
ovementi
ncr
edi
trat
ingbyr
educi
ng 
the 
count
ry’
sdef
aul
tri
sk
 Enhancementoff
orei
gnexchange 
reser
ves

Negat
iveEf
fect
sofI
MFLoan:
 I
ncr
easei
ncent
ral
exci
sedut
yon 
ser
viceandagr
icul
tur
esect
or.
 Reduct
ioni
nexpendi
tur
esont
hepubl
i
csect
ordev
elopmentpr
ogr
am
 Deval
uat
ionoft
he 
Rupee
 Fr
eezi
ngofnon-
dev
elopmentexpendi
tur
e
 I
ncr
easei
nmar
kupr
ateofbanksand 
oni
nter
-bankt
ransi
ti
ons.
 St
oppageofgov
ernmentf
inanci
ali
nter
vent
ioni
nthest
ockmar
ket
.
 Thedecl
i
nei
nGDPgr
owt
hrat
e
 Thedecl
i
nei
not
hereconomi
cindi
cat
orsr
ightaf
teri
nfusi
onofI
MF 
fundsi
ntheeconomy

Concl
usi
on:
I
fwel
ooki
ntot
hel
ong-
runi
mpactofI
MFl
oan,
then 
ther
eisanegat
iveandi
nsi
gni
fi
cant
r
elat
ionshi
pbet
weengov
ernmentbor
rowi
ngsandGDP.I
twi
l
lal
sol
eadt
opol
i
tical
inst
abi
l
ity
.
Howev
er,
itwi
l
lhav
eaposi
ti
vei
mpactonourexchanger
ate.
 TheGov
ernmentshoul
dpl
ayi
ts
r
olei
nincr
easi
ngt
hepaceofeconomi
cgr
owt
hinPaki
stan.I
ntheshor
tter
m,wecansee
benef
it
sandqui
ckt
ransf
ormat
ionbuti
nthel
ongr
un,
weal
lhav
etopay
.

2. Wor
ldBankGr
oup
 I
. I
BRD

TheInternational Bankf orReconstructi

onandDev el
opment( IBRD)i sagl obal devel
opment
cooperativeownedby189membercount ri
es.Ast helar
gestdev el
opmentbanki nthewor l
d,it
supportst heWor ldBankGr oup’smissionbypr ovi
dingloans,guar antees,riskmanagement
products,andadv isoryservi
cest omiddle-i
ncomeandcr edit
wor thylow- i
ncomecount ri
es,as
wellasbycoor dinatingresponsest oregionalandglobalchallenges. Createdi n1944t ohelp
Europer ebuil
daf terWor ldWarI I
,IBRDjoinswi t
hIDA,ourf undf orthepoor estcount r
ies,toform
theWor ldBank.  Theywor kclosel
ywi t
hal li
nsti
tuti
onsoft heWor l
dBankGr oupandthepubl ic
andprivatesect orsi ndevelopingcountri
est oreducepov ert
yandbui l
dshar edprosperit
y.

I
I. I
DA

The 
Int
ernat
ional
Dev
elopmentAssoci
ati
oni
san 
i
nter
nat
ional
financi
ali
nst
it
uti
on 
whi
chof
fer
s
concessi
onal
 
loans 
and 
grant
s t
othewor
ld'
spoor
est
 dev
elopi
ngcount
ri
es.TheI
DAi
sa
memberoft
he 
Wor
ldBankGr
oup 
andi
sheadquar
ter
edi
n Washi
ngt
on,
D.C.
 i
nthe 
Uni
tedSt
ates.
I
twasest
abl
i
shedi
n1960t
ocompl
ementt
heexi
sti
ng 
Int
ernat
ional
Bankf
orReconst
ruct
ion
andDev
elopment
 byl
endi
ngt
odev
elopi
ngcount
ri
eswhi
chsuf
ferf
rom t
hel
owest
 gr
oss
nat
ional
income,
from t
roubl
ed 
credi
twor
thi
ness,
orf
rom t
hel
owest
 percapi
tai
ncome.
Toget
her
,theI
nter
nat
ional
Dev
elopmentAssoci
ati
onandI
nter
nat
ional
Bankf
orReconst
ruct
ion
andDev
elopmentar
ecol
l
ect
ivel
ygener
all
yknownast
he 
Wor
ldBank,
ast
heyf
oll
owt
hesame
execut
ivel
eader
shi
pandoper
atewi
tht
hesamest
aff
.

I
II
. I
FC

The 
Int
ernat
ional
FinanceCor
por
ati
on 
i
san 
i
nter
nat
ional
financi
ali
nst
it
uti
on 
that
of
fer
s i
nvest
ment
,adv
isor
y,and 
asset
-management
 ser
vicest
oencour
age 
pri
vat
e-sect
or
dev
elopment
 i
n l
essdev
elopedcount
ri
es.TheI
FCi
samemberoft
he 
Wor
ldBankGr
oup 
andi
s
headquar
ter
edi
n Washi
ngt
on,
D.C.
 i
nthe 
Uni
tedSt
ates.I
twasest
abl
i
shedi
n1956,
ast
he
pr
ivat
e-sect
orar
m oft
heWor
ldBankGr
oup,
toadv
ance 
economi
cdev
elopment
 byi
nvest
ingi
n
f
or-
prof
itandcommer
cial
proj
ect
sfor
 pov
ert
yreduct
ion 
andpr
omot
ingdev
elopment
. 
TheI
FC'
s
st
atedai
mist
ocr
eat
eoppor
tuni
ti
esf
orpeopl
etoescapepov
ert
yandachi
evebet
terl
i
ving
st
andar
dsbymobi
l
izi
ngf
inanci
alr
esour
cesf
orpr
ivat
eent
erpr
ise,
promot
ingaccessi
bleand
compet
it
ivemar
ket
s,suppor
ti
ngbusi
nessesandot
herpr
ivat
e-sect
orent
it
ies,
andcr
eat
ingj
obs
anddel
i
ver
ingnecessar
yser
vicest
othosewhoar
epov
ert
yst
ri
ckenorot
her
wisev
ulner
abl
e.

TheI
FCi
sownedandgov
ernedbyi
tsmembercount
ri
esbuthasi
tsownexecut
ivel
eader
shi
p
andst
afft
hatconducti
tsnor
mal
busi
nessoper
ati
ons.I
tis
a 
cor
por
ati
on 
whose 
shar
ehol
der
s ar
emembergov
ernment
sthatpr
ovi
de 
pai
d-i
ncapi
tal
 
and
hav
ether
ightt
ovot
eoni
tsmat
ter
s.Or
igi
nal
l
y,i
twasmor
efi
nanci
all
yint
egr
atedwi
tht
heWor
ld
BankGr
oup,
butl
ater
,theI
FCwasest
abl
i
shedsepar
atel
yandev
ent
ual
l
ybecameaut
hor
izedt
o
oper
ateasaf
inanci
all
y-
aut
onomousent
it
yandmakei
ndependenti
nvest
mentdeci
sions.I
t
of
fer
sanar
rayof
 debt
 and 
equi
ty 
fi
nanci
ngser
vicesandhel
pscompani
esf
acet
hei
rri
sk
exposur
eswhi
l
eref
rai
ningf
rom par
ti
cipat
ingi
na 
management
 capaci
ty.Thecor
por
ati
onal
so
of
fer
sadv
icet
ocompani
esonmaki
ngdeci
sions,
eval
uat
ingt
hei
rimpactont
heenv
ironment
andsoci
ety
,andbei
ngr
esponsi
ble.I
tadv
isesgov
ernment
sonbui
l
dingi
nfr
ast
ruct
ureand
par
tner
shi
pst
ofur
thersuppor
tpr
ivat
esect
ordev
elopment
.

I
V. MI
GA

The 
Mul
ti
lat
eral
Inv
est
mentGuar
ant
eeAgency
 (MI
GA)i
san 
i
nter
nat
ional
financi
al
i
nst
it
uti
on 
whi
chof
fer
s pol
i
tical
riski
nsur
ance 
andcr
edi
tenhancementguar
ant
ees.These
guar
ant
eeshel
pinv
est
orspr
otect
 f
orei
gndi
recti
nvest
ment
s agai
nst
 pol
i
tical
andnon-
commer
cial
risks 
i
n dev
elopi
ngcount
ri
es.
 MI
GAi
samemberoft
he 
Wor
ldBankGr
oup 
andi
s
headquar
ter
edi
n Washi
ngt
on,
D.C.
 i
nthe 
Uni
tedSt
ates.MI
GAwasest
abl
i
shedi
n1988asan
i
nvest
menti
nsur
ancef
aci
l
ityt
oencour
ageconf
identi
nvest
menti
ndev
elopi
ngcount
ri
es.
 MI
GA
i
sownedandgov
ernedbyi
tsmemberst
ates,
buthasi
tsownexecut
ivel
eader
shi
pandst
aff
whi
chcar
ryouti
tsdai
l
yoper
ati
ons.I
ts 
shar
ehol
der
s ar
emembergov
ernment
sthatpr
ovi
de 
pai
d
-
incapi
tal
 
andhav
ether
ightt
ovot
eoni
tsmat
ter
s.I
tinsur
esl
ong-
t
erm 
debt
 and 
equi
ty 
i
nvest
ment
saswel
lasot
herasset
sandcont
ract
swi
thl
ong-
ter
m per
iods.
Theagencyi
sassessedbyt
heWor
ldBank'
sIndependentEv
aluat
ionGr
oupeachy
ear
.

3.Wor
ldBank

TheWor
ldBankwascr
eat
edatt
he1944 
Bret
tonWoodsConf
erence,
alongwi
th
t
he 
Int
ernat
ional
Monet
aryFund 
(I
MF)
.Thepr
esi
dentoft
heWor
ldBanki
s,t
radi
ti
onal
l
y,an
]
Amer
ican.
 TheWor
ldBankandt
heI
MFar
ebot
hbasedi
nWashi
ngt
on,
D.C.
,andwor
kcl
osel
y
 wi
theachot
her
.Ini
tsear
lyy
ear
stheBankmadeasl
owst
artf
ort
wor
easons:
itwas
under
funded,
andt
her
ewer
eleader
shi
pst
ruggl
esbet
weent
heUSExecut
iveDi
rect
orandt
he
Pr
esi
dentoft
heor
gani
zat
ion.Thef
ir
stcount
ryt
orecei
veaWor
ldBankl
oanwasFr
ance.The
Bank'
spr
esi
dentatt
het
ime,
 
JohnMcCl
oy,
choseFr
anceov
ert
woot
herappl
i
cant
s,Pol
andand
Chi
l
e.Fr
om 1974t
o1980t
hebankconcent
rat
edonmeet
ingt
hebasi
cneedsofpeopl
ein
t
he 
dev
elopi
ngwor
ld.Thesi
zeandnumberofl
oanst
obor
rower
swasgr
eat
lyi
ncr
eased,
asl
oan
]
t
arget
sexpandedf
rom i
nfr
ast
ruct
urei
ntosoci
alser
vicesandot
hersect
ors.Dur
ingt
he1980s
t
hebankemphasi
zedl
endi
ngt
oser
viceThi
rd-
Wor
lddebt
,and 
str
uct
ural
adj
ust
ment
 pol
i
cies
desi
gnedt
ost
reaml
i
net
heeconomi
esofdev
elopi
ngnat
ions.
 UNI
CEF 
repor
tedi
nthel
ate1980s
t
hatt
hest
ruct
ural
adj
ust
mentpr
ogr
amsoft
heWor
ldBankhadbeenr
esponsi
blef
or"
reduced
heal
th,
nut
ri
ti
onal
andeducat
ional
lev
elsf
ort
ensofmi
l
li
onsofchi
l
dreni
n Asi
a,
 Lat
inAmer
ica,
and 
Afr
ica"
.Begi
nni
ngi
n1989,
inr
esponset
ohar
shcr
it
ici
sm f
rom manygr
oups,
thebankbegan
i
ncl
udi
ngenv
ironment
algr
oupsandNGOsi
nit
sloanst
omi
ti
gat
ethepastef
fect
sofi
ts
dev
elopmentpol
i
ciest
hathadpr
ompt
edt
hecr
it
ici
sm. 
ordert
opr
omot
egl
obal
publ
i
cgoods,
t
heWor
ldBankt
ri
est
ocont
rol
communi
cabl
edi
seasesuchasmal
ari
a,del
i
ver
ingv
acci
nest
o
sev
eral
par
tsoft
hewor
ldandj
oini
ngcombatf
orces.I
n2000t
hebankannounceda"
waron
AI
DS"andi
n2011t
heBankj
oinedt
heSt
opTuber
cul
osi
sPar
tner
shi
p.

Wor
ldBankGr
oupassi
stancet
oPaki
stan

 Theyar
e suppor
ti
ngr
efor
msatbot
hthef
eder
alandpr
ovi
nci
all
evel
.
Forencour aginggr owth, investment ,andempl oy mentgener at ion,theFeder al andPr ovinci al
Gov ernment shav ebeeni mplement ingv ari
ousr eform programs.I nJune2007, t
heWor ldBank
appr ovedaUS$350mi lli
ont osuppor tongoi ngi mplement ati
onoft heGov ernment ’
sPov erty
Reduct ionSt rategy . 
Att hepr ovincial l
ev el
,theBankappr ovedoper at i
onswor thUS$430mi l
lion
forPunj ab,Sindhandt heNor thWestFr ontierPr ov i
ncetohel pi mpr ov eir
ri
gat ion,educat ionand
humandev elopmenti ndi cators.
 The yar ewor kingwi t
hPaki stanPov er t
yAl l
ev i
ationFundt obr i
ngdi fferencei nt heliv
esofpoor .
TheWor l
dBankf undedPaki stanPov ertyAlleviationFundPr oj ect(PPAF)i sdesi gnedtor educe
pover t
yandempowert her uralandur banpoori nPakistanthr ought heprovisionofr esour ces
andser vi
cest ot hepoor ,especi allywomen.Thi si sbeingachi ev edt hroughani ntegrat
ed
appr oacht hatincl udesbui l
dingi nstituti
onsoft hepoorandt henpr ov idi
ngthem wi thmi cr o-
creditloans; grant sforsmal lscal einf r
astructur eprojects;t
raini ngandski lldev elopmentand
social sectorinter venti
ons.Thepr ogram isi mpact i
ngov er10mi l
l
ionpeopl e.PPAFhasi ssued
1.5mi lli
onmi cro-creditloans, (av eragel oan-sizeUS$150) ,
benef i
ti
ngnear l
y9mi l
li
onpeopl e.
 The yar ehelpingt hev i
ct i
msoft heEar thquake.
TheOct ober2005ear thquakei nPaki standest roy edordamagedar ound575, 000r uralhouses,
andr ender i
ngov er3mi l
li
onpeopl ewi t
houtshel terinNor t
hWestFr ont i
erProv i
nce( NWFP)and
AzadJammuandKashmi r(AJ&K) .Inresponse, thegov ernmentcr eat edtheEar t
hquakeRel ief
 andReconst ruct ionAut hor ity( ERRA)andl aunchedanambi tiousUS$1. 5bi l
lionowner -dr i
v en
rebui l
di ngpr ogr am –l ar gel ysui tedt ot hemai nlyr ur al affect edpopul at i
on.I tispar tial lyf unded
byWor ldBank.
 Theyar ewor kingwi tht hegov er nmentt oi mpr ov eeducat ionout comes.
TheWor ldBanki spr ov idingassi stancet ot heGov ernmentofPaki stani neducat ionr ef orms, at
bot ht henat i
onal andt hepr ov inci al lev el.Thi ssuppor ti spr ov i
dedt hr oughdev el opmentpol i
cy
oper at i
onswi t
hast rongf ocusonpr i
mar yandsecondar yeducat i
on.Thesepr ogr amst ar get
i
ncr easi ngpar ticipat i
onofgi rlsandchi ldrenf rom poor erhouses.TheWor ldBanki sal so
assist ingt hegov ernmenti ni mpr ov ingt hequal i
tyandr elev anceofi tshi ghereducat ionand
techni cal andv ocat i
onal trainingsy st em.Theyhav east rongf ocusoni mpr ov i
ngt hequal i
tyof
educat ion.
 Theyar ej oiningwi t
hi nt er nat i
onal par tner st ohel pPaki stanf ightpol i
o.
Theyappr ov edt wopr oj ect sUS$42. 71mi ll
ioni n2003andUS$74. 27mi ll
ioni n2006f or
Paki stant opur chaset heor al pol iov acci ne.Thel oant oPaki st anwi l
l helpt hecount ry’sPol io
Eradi cat ionI nitiativewhi chai mst omakePaki st anaPol i
of reecount ry.Si nce1997t henumber
ofpol i
ocaseshasdecr easedf rom 1147t o31i n2007.Thef irstpr ojecthasbeensuccessf ul
ly
compl et ed.
 Theyar ef ocusi ngonun- ser v edandunder ser vedl ow- i
ncomecommuni ti
es.
InNWFPandAJK, Bankpr oj ect sar esuppor t i
ngdel iveryofcostef fect i
v eandsust ainabl e
communi tydev elopmentschemes, andbasi ci nf r
ast r
uct ur eandser vices.Toachi ev et his, the
roleandcapabi l
itiesofl ocal gov er nment satt hedi st r
ictandl owerl ev elshav ebeen
strengt hened.I nAJK, thepr oj ecthasal readyr eachedapopul ationof893, 000agai nstt he
original t
ar getof830, 000, thr ough320CBOs.Outoft he54Tehsi lMuni cipal Aut hor ities( TMA)
i
nNWFP, 50ar enowpar ticipat ingi nt hePr oj ect.
 Theyar ehel pingPaki stanpr ev entt hespr eadofHI V/ AI DS.
Thekeychal lengef aci ngt hecount ryist oexpandandi mpr ov equal ityofHI Vpr ev ent iv e
serv i
cest ov ulner abl egr oupst hatar emostatr iskofcont ract ingandt ransmi t
tingt hedi sease.
Thesei ncl udesexwor ker sandi nject i
ngdr uguser s.TheBanki ssuppor t
ingt heGov er nment
effortst ocont rol AI DSt hr ought heHI V/ AI DSPr ev ent ionPr oj ectdesi gnedt opr ev entt hedi sease
from becomi ngest abl i
shedi nt hesepopul at ions, whi leatt hesamet i
mewor ki
ngt opr ot ect
thesegr oupsf r
om st igmat izat ion.  Akeyf ocusoft hepr ojecti sdel iv eryofHI Vpr ev ent ive
serv i
cest ohi ghr iskpopul at i
onst hr oughpubl ic-priv atepar tner ships.At otal of17ser v ice
deliver ypackagesf ori nj ect i
ngdr uguser s( IDUs) ,sexwor kers, t
rucker sandj ai
l inmat eshav e
beencont ract edoutt oNGOsbyt heNat ional andPr ov incial AI DSCont rol Progr amscov ering
mostmaj orci ti
esacr osst hecount ry.
 
 Theyar ehel pingt o‘impr ov et radef lows’ and‘ lowert ransi tcost sandt imes’ .
In2005, theGov ernmentofPaki st an( GOP)l aunchedmaj ori ni ti
ativesar oundt heNat ional Trade
Cor ri
dorI mpr ov ementPr ogr am ( NTCI P)t or educet hecostoft r
adeandt ranspor tlogi sticsand
bringser vices’ qual ityt oi nt ernat i
onal standar dsi nor dert or educet hecostofdoi ngbusi nessi n
Paki stanandul ti
mat elyenhancecompet i
tivenessandi ndust riali
zat i
on.
 Theyr el yonl ocal exper tise. 
Theyr el ymost lyonl ocal exper t i
se.As90%oft heirst af fisl ocal whoar ewor kingf orPaki stan.
Whi leal ar gepar tofWor ldBank’ sv al uei sitsgl obal exper ienceandexper ti
se,local knowl edge
i
si ndi spensabl et oef fect ivedev elopment .
4.WTO( Wor ldt radeor gani zat ion)

TheWor
ldTr
adeOr
gani
zat
ion(
WTO)i
sani
nter
nat
ional
organi
zat
iont
hatai
msatpr
ovi
ding
opent r
adeoppor t
unit
yforall.Theul ti
mat egoal behindt hi
sor gani zationist ohelpexpor ters,
i
mpor tersandpr oducersofgoodst oconductt heirbusiness.TheGener alAgr eementonTr ade
andTar if
fs(GATT)est abli
shedi n1948i scal l
edt hepr edecessorofWTO.WTOi soriginatedon
1st  
Januar y1995, t
houghamongal ltheinternati
onal organizationWTOi st heyoungestst i
lli
ts
mul ti
lateraltr
adingsystem isfif
tyy earsold.Itistheonl yorgani zationwhi chdeal sther ulesof
tradebet weent henations.WTOi scal l
edar ulesbasedor ganizat i
onandi tfulf
ilsit
sobj ectives
throughanumberofmul ti
lat
eral agreement swhi char enegot i
at ed,accept edandsi gnedbyal l
theWTOmember sandappr ovedbyt heirparli
ament s.Themai nagr eement sofWTOar eGATT,
Gener al AgreementonTr adei nSer vi
ces( GATS)andTr adeRel atedI ntel
lectualPropertyRi ghts
(TRIPs) .Goodsandser vi
cesar egener al
lycov eredunderGATTandGATSr espect i
velywhi l
et he
i
nt el
lectualpropertyri
ghtsareaddr essedbyTRI Ps.TheAgr eementonAgr i
cultureandTex til
e
comeundert heumbr ell
aofGATT.

AgoodnumberofWTOagr eement saim atimpr ovi

ngimportandexpor ttrade; these
agreementsi ncl
udeGATT- 1994, mar ketaccessclauseofAoA( AgreementonAgr i
culture),
Agreement sonAnt i
-Dumpi ng, AgreementonCount ervai
li
ngDuties,AgreementonSaf eguards
andAgreementonRul esofOr igin,besidestradefaci
li
tati
onandot herprovisions.Undert he
dir
ectandi ndir
ectef fectsoft hestatedWTOagr eements,Paki
stan’sforei
gnt radei sexpect ed
tobelargelybetterof f.Si
ncemostoft heseagreementsimprovecompet i
tiveness, both
component soff orei
gnt r
ade, thatis,exportsandimpor t
s,mustfacer el
ati
v elylessr estr
icti
ons
overti
me, andespeci al l
ywhencompar edwithpre-WTOper i
ods.

BeingamemberoftheWTO, Pakist
anhasbilat
er alandmul t
il
ateral
agreementswithmany
otherWTO’
smember sandinter
nati
onalt
radeor ganizati
ons.Ithasasignat
oryoftheSouth
AsianFr
eeTradeAgreementaswellaspartofthePaki stan-
ChinaFreeTradeAgreement.

Fluctuat
ingexportsdemand,i
nternaldisor
dersandpoli
ti
caluncertai
nty
,andtheimpactof
occasionaldroughtonit
sagri
cult
ur alsect
orhaveall
causedv ar
iabil
i
tyintr
adebalance.The
tradedefici
testi
matedfort
hefiscal y
ear2013-14is$7.
743billi
on.Export
sis$10.367bil
li
on
(July
-Nov ember2013)andimportsis$18.110bil
li
on.

Ther at
ioofPaki
stan’
sexpor t
stoGDPwascal cul
atedasr oundabout12percentdur
ingt
he
1980sandhov eredar
ound17per centi
nthefir
sthalfofthe1990s.Aft
erthi
sadownwar dtr
end
hasbeennot i
cedformoret han15year
s.Export
sratiowasl esst
han15percentofGDPin2004
-09ascompar edtoothercompeti
torswhoseexportrat
iosroseconti
nuousl
y,insomecases,
sharply
.

Pakistan’sexpor
tsareconti
nuouslydominatedbycottontexti
l
esandappar el
,whilet
heimport
s
aremai nlyconsi
stofcapit
algoods,i
ndustr
ialrawmaterial
s,petr
oleum andpetr
oleum pr
oduct
s,
fer
ti
lizers,chemi
cals,
edibl
eoilandconsumerpr .
oduct

5.BI
S(Bankofi
nter
nat
ional
set
tl
ement
s)

Headquarter
edinBasel,
Swit
zerl
and,the 
BankforI nt
ernat
ionalSettl
ement
s (
BIS)i
sabankf or
cent
ralbanks. 
Foundedi
n1930,theBankforInternati
onalSettl
ementsist
heoldestglobal
fi
nanci
alinst
itut
ionandoper
atesundertheauspicesofinternat
ionall
aw.Butfr
om it
si ncept
ion
t
ot hepr
esentday
,therol
eoftheBIShasbeenev
er-
changi
ng 
asi
tadapt
stot
hedy
nami
cgl
obal
f
inanci
alcommunityandi
tsneeds.

TheBISwascr eat
edoutoftheHagueAgreementsof1930andtookov erthej
oboft
heAgent
General f
orRepatr
iat
ioninBerl
i
n.Whenestabl
i
shed,theBI
Swasr esponsiblef
ort
hecoll
ecti
on,
administrat
ionanddist
ri
buti
onofrepar
ati
onsfr
om Germany—asagreeduponi nt
heTreatyof
Versai
lles—fol
lowi
ngWor ldWarI.
 

AfterWor ldWarI I,theBISturneditsf ocust othedef enseandi mplement at

ionoftheWor l
d
Bank's Brett
onWoodsSy stem.Bet weent he1970sand1980s, t
heBI Smoni tor
edcross-
border capit
al flows  i
nthewakeoft heoi landdebtcr i
ses,whichinturnledtothedev elopment
ofregulatorysuper visi
onofint er
nationall
yact iv
ebanks.TheBI Shasal soemer gedasan
emer gency" funder "for 
nati
onsi ntrouble, comingt otheaidofcount r
iessuchasMexi coand
Brazilduringt heirdebtcrisesin1982and1998, respecti
vely
. 
TheBI Shasal sofuncti
onedas
tr
usteeandagent .Forexampl e,fr
om 1979t o1994, t
heBISwast heagentforthe Eur
opean
Monet arySy stem, whichistheadmi nistrationthatpav edthewayf orasingleEuropeancur rency
.