1. What We Do

Second Improvement to Financial Reporting and Auditing Project

Abstract*

The Second Improvement to Financial Reporting and Auditing Project for Pakistan will build capacity to improve the accuracy, comprehensiveness, reliability, and timeliness of intra-year and year-end government financial and fiscal reports at federal, provincial and district levels. The project consists of the following components: Component 1) will follow up and extend the work done under PIFRA I in implementing policies, systems and procedures that...

* The project abstract is drawn from the PAD, SAR or PGD and may not accurately reflect the project's current nature

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Development Objective

Overall project development objectives are to: (a) build capacity to improve accuracy, comprehensiveness, reliability, and timeliness of financial and fiscal reporting at all levels of government; (b) improve public financial management, accountability, and transparency; (c) enhance the capacity of public sector managers to use credible financial information for better and informed decision-making; and (d) facilitate oversight of the use of public monies, and increase the national and international credibility of government#s financial statements and assurance processes.

Key Details

Project Details

  • P076872

  • Closed

  • Paul Welton

  • N/A

  • Pakistan

  • July 15, 2002

  • (as of board presentation)

    September 6, 2005

  • November 8, 2005

  • US$ 84.00 million

  • C

  • Not Applicable

  • December 31, 2014

  • BANK APPROVED

  • January 14, 2015

  • Notes

Sectors

Created with Highstock 5.0.14FY17 - Central Government(Central Agencies)FY17 - Central Government (Central Agencies)FY17 - Sub-National GovernmentFY17 - Banking Institutions

Themes

Project Map

Interactive Map

Finances

Financing Plan (US$ Millions)

No data available.
Financier Commitments
Borrower/Recipient 9.00
IDA Credit 84.00

Total Project Financing (US$ Millions)

Product Line IBRD/IDA
IBRD Commitment N/A
IDA Commitment 84.00
IBRD + IDA Commitment 84.00
Lending Instrument
Grant Amount N/A
Total Project Cost** 93.00

Summary Status of World Bank Financing (US$ Millions) as of July 31, 2025

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No data available.
Financier Approval Date Closing Date Principal Disbursed Repayments Interest, Charges & Fees

Detailed Financial Activity as of July 31, 2025

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No data available.
Period Financier Transaction Type Amount (US$)
Mar 15, 2024 IDA-48640 Int Charges 49,948.02
Mar 15, 2023 IDA-41090 Int Charges 207,621.36
Mar 15, 2023 IDA-41090 Int Charges 207,621.36
Mar 15, 2023 IDA-41090 Loan Repay 11,494.07
Mar 15, 2023 IDA-48640 Int Charges 51,284.16
Mar 15, 2023 IDA-48640 Int Charges 51,284.16
Sep 15, 2023 IDA-48640 Loan Repay 2,982.32
Sep 15, 2023 IDA-48640 Loan Repay 175,269.66
Sep 15, 2023 IDA-41090 Loan Repay 830,105.40
Sep 15, 2023 IDA-48640 Int Charges 50,133.33
Sep 15, 2023 IDA-48640 Int Charges 50,133.33
Sep 15, 2023 IDA-41090 Int Charges 202,504.60
Sep 15, 2023 IDA-41090 Int Charges 202,504.60
Sep 15, 2023 IDA-41090 Loan Repay 13,663.89
Mar 15, 2023 IDA-48640 Loan Repay 2,508.50
Mar 15, 2023 IDA-48640 Loan Repay 177,435.81
Mar 15, 2023 IDA-41090 Loan Repay 840,286.00
Sep 15, 2022 IDA-48640 Loan Repay 4,996.38
Sep 15, 2022 IDA-48640 Loan Repay 170,037.19
Sep 15, 2022 IDA-48640 Int Charges 50,540.93
Sep 15, 2022 IDA-48640 Int Charges 50,540.93
Sep 15, 2022 IDA-41090 Loan Repay 22,895.96
Mar 15, 2020 IDA-41090 Int Charges 234,779.60
Mar 15, 2020 IDA-41090 Loan Repay 9,401.74
Mar 15, 2020 IDA-41090 Loan Repay 872,399.56
Sep 15, 2020 IDA-41090 Loan Repay 2,673.65
Mar 15, 2021 IDA-41090 Int Charges 21,390.05
Mar 15, 2021 IDA-41090 Int Charges 21,390.05
Mar 15, 2021 IDA-41090 Loan Repay 913,998.06
Mar 15, 2021 IDA-41090 Int Charges 236,496.98
Mar 15, 2021 IDA-41090 Int Charges 236,496.98
Mar 15, 2021 IDA-48640 Loan Repay 193,088.28
Mar 15, 2021 IDA-48640 Int Charges 1,073.77
Mar 15, 2021 IDA-48640 Int Charges 1,073.77
Mar 15, 2021 IDA-48640 Int Charges 57,926.49
Sep 15, 2019 IDA-48640 Int Charges 55,563.53
Sep 15, 2019 IDA-48640 Int Charges 55,563.53
Sep 15, 2019 IDA-48640 Int Charges 120.08
Sep 15, 2019 IDA-48640 Int Charges 120.08
Sep 15, 2019 IDA-41090 Loan Repay 2,413.62
Sep 15, 2019 IDA-41090 Loan Repay 876,194.90
Sep 15, 2019 IDA-41090 Int Charges 237,224.30
Sep 15, 2019 IDA-41090 Int Charges 237,224.30
Mar 15, 2020 IDA-48640 Int Charges 55,416.79
Mar 15, 2020 IDA-48640 Int Charges 55,416.79
Mar 15, 2020 IDA-48640 Int Charges 469.17
Sep 15, 2022 IDA-41090 Loan Repay 805,638.70
Sep 15, 2022 IDA-41090 Int Charges 205,062.31
Sep 15, 2022 IDA-41090 Int Charges 205,062.31
Mar 15, 2022 IDA-41090 Int Charges 1,102.95
Mar 15, 2022 IDA-41090 Int Charges 1,102.95
Mar 15, 2022 IDA-41090 Loan Repay 882,549.94
Mar 15, 2022 IDA-41090 Int Charges 221,740.66
Mar 15, 2022 IDA-41090 Int Charges 221,740.66
Mar 15, 2022 IDA-48640 Int Charges 240.67
Mar 15, 2022 IDA-48640 Int Charges 240.67
Mar 15, 2022 IDA-48640 Loan Repay 186,444.66
Mar 15, 2022 IDA-48640 Int Charges 54,535.07
Mar 15, 2022 IDA-48640 Int Charges 54,535.07
Sep 15, 2021 IDA-48640 Loan Repay 190,649.50
Sep 15, 2021 IDA-48640 Int Charges 56,854.28
Sep 15, 2021 IDA-48640 Int Charges 56,854.28
Sep 15, 2021 IDA-41090 Int Charges 231,524.58
Sep 15, 2021 IDA-41090 Int Charges 231,524.58
Sep 15, 2021 IDA-41090 Loan Repay 9,778.82
Sep 15, 2021 IDA-41090 Loan Repay 902,632.44
Sep 15, 2021 IDA-48640 Loan Repay 2,103.56
Mar 15, 2021 IDA-48640 Int Charges 57,926.49
Sep 15, 2020 IDA-48640 Int Charges 56,247.68
Sep 15, 2020 IDA-48640 Int Charges 56,247.68
Sep 15, 2020 IDA-48640 Int Charges 133.82
Sep 15, 2020 IDA-48640 Int Charges 133.82
Sep 15, 2020 IDA-41090 Loan Repay 903,748.70
Sep 15, 2020 IDA-41090 Int Charges 216,723.10
Sep 15, 2020 IDA-41090 Int Charges 216,723.10
Feb 10, 2011 IDA-48640 Loan Commitment 24,500,000.00
Sep 6, 2005 IDA-41090 Loan Commitment 84,000,000.00
Mar 15, 2024 IDA-41090 Int Charges 201,287.44
Mar 15, 2024 IDA-41090 Int Charges 201,287.44
Mar 15, 2024 IDA-41090 Loan Repay 823,614.56
Mar 15, 2024 IDA-48640 Loan Repay 173,794.60
Mar 15, 2024 IDA-48640 Int Charges 0.01
Mar 15, 2024 IDA-48640 Int Charges 0.01
Mar 15, 2024 IDA-41090 Loan Repay 28,395.82
Mar 15, 2024 IDA-48640 Loan Repay 6,198.37
Mar 15, 2024 IDA-48640 Int Charges 49,948.02
Jun 30, 2015 IDA-41090 Loan Cancel 186,837.12
May 20, 2016 IDA-48640 Loan Cancel 353,266.00
May 20, 2016 IDA-48640 Loan Disb -353,266.00
Sep 15, 2016 IDA-41090 Loan Repay 895,973.75
Sep 15, 2016 IDA-41090 Int Charges 260,572.10
Sep 15, 2016 IDA-41090 Int Charges 260,572.10
Sep 15, 2016 IDA-48640 Int Charges 428.66
Sep 15, 2016 IDA-48640 Int Charges 428.66
Sep 15, 2016 IDA-48640 Int Charges 56,997.42
Sep 15, 2016 IDA-48640 Int Charges 56,997.42
Sep 15, 2016 IDA-41090 Int Charges 8,917.19
Sep 15, 2016 IDA-41090 Int Charges 8,917.19
Mar 15, 2016 IDA-41090 Int Charges -192.87
Mar 15, 2016 IDA-41090 Int Charges 192.87
Mar 15, 2016 IDA-48640 Int Charges -922.03
Mar 15, 2017 IDA-41090 Int Charges 5,149.24
Mar 15, 2017 IDA-41090 Int Charges 5,149.24
Mar 15, 2017 IDA-41090 Loan Repay 863,527.50
Mar 15, 2017 IDA-41090 Int Charges 249,343.56
Mar 15, 2017 IDA-41090 Int Charges 249,343.56
May 20, 2016 IDA-41090 Loan Cancel 2,848,697.50
May 20, 2016 IDA-41090 Loan Disb -0.10
May 20, 2016 IDA-41090 Loan Disb -2,848,697.50
Sep 15, 2017 IDA-41090 Loan Repay 909,643.10
Sep 15, 2017 IDA-41090 Int Charges 232,225.92
Sep 15, 2017 IDA-41090 Int Charges 232,225.92
Sep 15, 2017 IDA-48640 Int Charges 67.22
Sep 15, 2017 IDA-48640 Int Charges 67.22
Mar 15, 2017 IDA-48640 Int Charges 253.71
Mar 15, 2017 IDA-48640 Int Charges 253.71
Mar 15, 2017 IDA-48640 Int Charges 54,727.82
Mar 15, 2017 IDA-48640 Int Charges 54,727.82
Sep 15, 2017 IDA-48640 Int Charges 56,317.94
Sep 15, 2017 IDA-48640 Int Charges 56,317.94
Sep 15, 2017 IDA-41090 Loan Repay 1,366.86
Mar 15, 2018 IDA-41090 Int Charges 27,979.49
Mar 15, 2018 IDA-41090 Int Charges 27,979.49
Mar 15, 2018 IDA-41090 Loan Repay 929,872.44
Mar 15, 2018 IDA-41090 Int Charges 244,460.44
Mar 15, 2018 IDA-41090 Int Charges 244,460.44
Mar 15, 2018 IDA-48640 Int Charges 1,379.96
Mar 15, 2018 IDA-48640 Int Charges 1,379.96
Mar 15, 2018 IDA-48640 Int Charges 58,088.44
Mar 15, 2018 IDA-48640 Int Charges 58,088.44
Sep 15, 2018 IDA-48640 Int Charges 814.74
Sep 15, 2018 IDA-48640 Int Charges 814.74
Sep 15, 2018 IDA-48640 Int Charges 56,851.88
Sep 15, 2018 IDA-48640 Int Charges 56,851.88
Sep 15, 2018 IDA-41090 Int Charges 16,472.12
Sep 15, 2018 IDA-41090 Int Charges 16,472.12
Sep 15, 2018 IDA-41090 Loan Repay 897,503.00
Sep 15, 2018 IDA-41090 Int Charges 248,468.39
Sep 15, 2018 IDA-41090 Int Charges 248,468.39
Mar 15, 2019 IDA-48640 Int Charges 56,461.79
Mar 15, 2019 IDA-48640 Int Charges 56,461.79
Mar 15, 2019 IDA-48640 Int Charges 28.99
Mar 15, 2019 IDA-48640 Int Charges 28.99
Mar 15, 2019 IDA-41090 Int Charges 584.35
Mar 15, 2019 IDA-41090 Int Charges 584.35
Mar 15, 2019 IDA-41090 Loan Repay 890,887.06
Mar 15, 2019 IDA-41090 Int Charges 243,880.31
Mar 15, 2019 IDA-41090 Int Charges 243,880.31
Mar 15, 2020 IDA-48640 Int Charges 469.17
Mar 15, 2020 IDA-41090 Int Charges 234,779.60
Dec 30, 2014 IDA-41090 Loan Cancel 4,634,816.00
Dec 30, 2014 IDA-48640 Loan Cancel 5,648,682.00
Sep 15, 2013 IDA-41090 Int Charges 6,137.85
Sep 15, 2013 IDA-41090 Int Charges 273,594.66
Sep 15, 2013 IDA-41090 Int Charges 273,594.66
Sep 5, 2013 IDA-41090 Loan Disb 1,350,100.00
Sep 5, 2013 IDA-48640 Loan Disb 848,818.00
Jan 7, 2014 IDA-48640 Loan Disb 950,328.00
Nov 26, 2013 IDA-48640 Loan Disb 109,373.00
Mar 21, 2014 IDA-48640 Loan Disb 1,616,916.00
Mar 15, 2014 IDA-41090 Int Charges 4,127.76
Mar 15, 2014 IDA-41090 Int Charges 4,127.76
Mar 15, 2014 IDA-41090 Int Charges 304,251.97
Mar 15, 2014 IDA-41090 Int Charges 304,251.97
Mar 15, 2014 IDA-48640 Int Charges 740.00
Mar 15, 2014 IDA-48640 Int Charges 740.00
Mar 15, 2014 IDA-48640 Int Charges 49,120.03
Mar 15, 2014 IDA-48640 Int Charges 49,120.03
Dec 5, 2013 IDA-41090 Loan Disb 1,317,500.00
Dec 5, 2013 IDA-48640 Loan Disb 197,926.77
Sep 15, 2013 IDA-48640 Int Charges 671.93
Sep 15, 2013 IDA-48640 Int Charges 671.93
Sep 15, 2013 IDA-48640 Int Charges 40,038.26
Sep 15, 2013 IDA-48640 Int Charges 40,038.26
Sep 15, 2013 IDA-41090 Int Charges 6,137.85
Sep 8, 2014 IDA-48640 Loan Disb 480,976.00
Jun 3, 2014 IDA-48640 Loan Disb 87,088.00
Apr 28, 2015 IDA-48640 Loan Disb 439,167.00
Jan 5, 2015 IDA-48640 Loan Disb 455,183.00
Sep 15, 2014 IDA-41090 Int Charges 3,204.97
Sep 15, 2014 IDA-41090 Int Charges 3,204.97
Sep 15, 2014 IDA-41090 Int Charges 299,575.78
Sep 15, 2014 IDA-41090 Int Charges 299,575.78
Sep 15, 2014 IDA-48640 Int Charges 518.19
Sep 15, 2014 IDA-48640 Int Charges 518.19
Sep 15, 2014 IDA-48640 Int Charges 56,606.70
Sep 15, 2014 IDA-48640 Int Charges 56,606.70
Mar 15, 2015 IDA-48640 Int Charges 52,612.52
Mar 15, 2015 IDA-48640 Int Charges 52,612.52
Mar 15, 2015 IDA-48640 Int Charges 1,654.44
Mar 15, 2015 IDA-48640 Int Charges 1,654.44
Mar 15, 2015 IDA-41090 Int Charges 9,151.63
Mar 15, 2015 IDA-41090 Int Charges 9,151.63
Mar 15, 2015 IDA-41090 Int Charges 264,690.12
Mar 15, 2015 IDA-41090 Int Charges 264,690.12
Sep 15, 2015 IDA-48640 Int Charges 55,356.07
Sep 15, 2015 IDA-48640 Int Charges 55,356.07
Sep 15, 2015 IDA-48640 Int Charges 2,241.69
Sep 15, 2015 IDA-48640 Int Charges 2,241.69
Mar 15, 2016 IDA-48640 Int Charges 57,404.47
Mar 15, 2016 IDA-48640 Int Charges 57,404.47
Mar 15, 2016 IDA-48640 Int Charges 524.49
Mar 15, 2016 IDA-48640 Int Charges 524.49
Mar 15, 2016 IDA-41090 Int Charges 11,037.46
Mar 15, 2016 IDA-41090 Int Charges 11,037.46
Mar 15, 2016 IDA-41090 Loan Repay 927,977.70
Mar 15, 2016 IDA-41090 Int Charges 266,038.03
Mar 15, 2016 IDA-48640 Int Charges 922.03
Mar 15, 2016 IDA-41090 Int Charges 266,038.03
Jun 30, 2015 IDA-48640 Loan Cancel 893,166.75
Sep 15, 2015 IDA-41090 Loan Repay 930,196.80
Sep 15, 2015 IDA-41090 Int Charges 270,579.75
Sep 15, 2015 IDA-41090 Int Charges 270,579.75
Sep 15, 2015 IDA-41090 Loan Repay 11,311.96
Footnotes

Ratings

IMPLEMENTATION RATINGS

Name Review Date
Progress towards achievement of PDO Satisfactory 2014-11-21
Monitoring and Evaluation Highly Satisfactory 2014-11-21
Overall Implementation Progress (IP) Moderately Satisfactory 2014-11-21
Procurement Moderately Satisfactory 2014-11-21
Financial Management Moderately Unsatisfactory 2014-11-21
Counterpart Funding Moderately Unsatisfactory 2014-11-21
Project Management Moderately Satisfactory 2014-11-21

COMPLETION RATINGS

INDICATORIMPLEMENTATION COMPLETION & RESULTS REPORT: 06-25-2015
OutcomesSubstantial
Risk to Development OutcomeModest
Bank PerformanceSubstantial
Borrower PerformanceSubstantial
Government PerformanceSubstantial
Implementing AgencySubstantial

INDEPENDENT EVALUATION RATINGS

INDICATORICR REVIEW: 12-17-2015PROJECT PERFORMANCE ASSESSMENT REPORT:
Outcome RatingSatisfactory N/a
Risk To Development OutcomeModerateN/a
Bank PerformanceSatisfactoryN/a
Borrower PerformanceSatisfactoryN/a
Government PerformanceSatisfactoryN/a
Implementing AgencySatisfactoryN/a
Icr QualityExemplaryN/a
M&e QualitySubstantialN/a

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATORBASELINECURRENTTARGET
  • Effective and transparent fiscal administrationValueFully rolled out MTBF. No FABS configuration.FABS supports MTBF.FABS support of MTBF.
    DateNovember 30, 2010October 1, 2014December 31, 2014
    Comment
  • Effective and transparent financial reporting, control, and auditValueAccounts to OAG 2 months after year-end. OAG accOAG certification and audit report within 8 monthsOAG certification and audit report within 6 months
    DateNovember 30, 2010October 1, 2014December 31, 2014
    Comment
  • Effectively tracked and managed poverty reducing spendingValueSystem produced PRSP reports, data entry to be furSystem reports, PETS established.System reports, PETS established.
    DateNovember 30, 2010October 1, 2014December 31, 2014
    Comment
  • Effective corruption reducing measures related to accounts and budget control.ValueFABS issues checks and provides regular reports onSystem reporting fully under CGA and regular OAG ASystem reporting fully under CGA and regular OAG a
    DateNovember 30, 2010October 1, 2014December 31, 2014
    Comment
  • Establish stable FABS operations and maintenance support in GoP(implement a data warehouse, an information security and Disaster Recovery Plan)ValueFABS is now used across the country to prepare andFABS has been fully established and is operationalAll sites on full work flow (e.g. KP and Balochist
    DateNovember 30, 2010October 1, 2014December 31, 2014
    Comment
  • Adequate numbers of trained staff in MoF and CGA to manage and apply system to fiscal and financial management (trained MoF, CGA and line ministry CFAOs)ValueAll operational staff of CGA/AG and DDOs trained iTraining of 1045 senior officers and 58 CFAOs.20 senior including operation, staff; 20 CFAOs.
    DateNovember 30, 2010October 1, 2014December 31, 2014
    Comment

INTERMEDIATE RESULTS INDICATORS

INDICATORBASELINECURRENTTARGET
  • Discrepancies between monetary survey credit and government fiscal deficit for 2004-5 = 1.2% of GDPValueEstimated statistical discrepancy 2004/5- 1.2 % ofVarious reforms under PIFRA have significantly conFull reconciliation
    DateMay 31, 2005October 1, 2014December 31, 2014
    Comment
  • Issue of reliable, timely budget execution reports (BERs) to PAOsValueNo BERs - civil accounts onlyBERs are available at every level of Government th100% and full commitment records
    DateMay 31, 2005October 1, 2014December 31, 2014
    Comment
  • Application of IPSAS accounting standardsValueFinancial statenents did not comply with IPSASFinancial statements comply with IPSAS cash basis.Road map being developed to extend to accruals bas
    DateMay 31, 2005October 1, 2014December 31, 2014
    Comment
  • Implementation of commitment accountingValueNo commitments recorded.Commitment functionality has been fully developed Full commitment accounting and reporting
    DateMay 31, 2005October 1, 2014December 31, 2014
    Comment
  • Bills passed within 3 days (%)ValueNo bills trackingAggregate figure for August 2014 stands at 48% pas80%
    DateMay 31, 2005October 1, 2014December 31, 2014
    Comment
  • All cheques issued by systemValueManual issuance of cheques100% . AchievedDirect payments to all vendors
    DateMay 31, 2005October 1, 2014December 31, 2014
    Comment
  • Comprehensive data entry coverage (% of expenditure and receipts)ValueCoverage of projects, SAEs, foreign financed transSystem is capable of capturing all transactions.100%
    DateMay 31, 2005October 1, 2014December 31, 2014
    Comment
  • Interfaces with SBP/NBP, FBR and EAD establishedValueNo interface exists to capture data electronicallyInterfaces have been developed for SBP and NationaAll interfaces in place.
    DateMay 31, 2005October 1, 2014December 31, 2014
    Comment
  • Application of modern audit practicesValueManual, transactions sample-based audit. No staff Quality Control Framework operational since 2010-1Second cycle quality control framework effectively
    DateMay 31, 2005October 1, 2014December 31, 2014
    Comment
  • Performance audit of policy-linked programmes (such as poverty reduction)ValueFew policy oriented staff30 PAAS Officers have been trained, who have conduTraining of 30 PAAs officers on performance audit
    DateMay 31, 2005October 1, 2014December 31, 2014
    Comment
  • Implementation of AMISValueNo formal audit management information system (AMIA single bid was received for an off the shelf AMIRoll-out to key sites
    DateMay 31, 2005October 1, 2014December 31, 2014
    Comment
  • Training of PAAs staff to replace consultantsValueDuring transaction roll-out- a heavy reliance on cOn targetOnly audit experts and few supervisors to be retai
    DateMay 31, 2005October 1, 2014December 31, 2014
    Comment
  • Transfer of M&E and change management skills to CGA/OAGValueLimited skills transfer in trnsactions roll out phMainstreaming of M&E and change management functioFull take-over of M&E and CM functions by GOP
    DateMay 31, 2005October 1, 2014December 31, 2014
    Comment