Skip to Main Navigation

Power Sector Reform: Second Development Policy Credit

Abstract*

This second credit in a programmatic series of two single tranche operations continues IDA’s support for Pakistan’s goal of developing an efficient and consumer-oriented electric power system that meets the needs of its people and economy sustainably and affordably. The operation supports the government’s efforts to make much-needed structural changes to the electric power sector that will improve its financial, technical and commercial performance...

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

Show More

Development Objective

This development policy credit (DPC) focuses on structural reforms to the electric power sector that will improve its financial, technical and commercial performance. The DPC is structured around three objectives: (A) Reducing subsidies and improving tariff policy; (B) Improving sector performance and opening the market to private participation; (C) Ensuring accountability and transparency.

Key Details

Project Details

  • P152021

  • Closed

  • Richard Jeremy Spencer

  • Ministry of Finance

  • Pakistan

  • September 30, 2015

  • (as of board presentation)

    November 12, 2015

  • November 25, 2015

  • US$ 500.00 million

  • Ministry of Petroleum and Natural Resources,Oil and Gas Regulatory Authority,National Electric Power Regulatory Authority,Ministry of Finance,Ministry of Water and Power

  • Middle East, North Africa, Afghanistan, and Pakistan

  • 2016

  • US$ 500.00 million

  • N/A

  • Not Applicable

  • December 31, 2016

  • BANK APPROVED

  • P128258

  • February 28, 2022

  • Notes

Finances

Financing Plan (US$ Millions)

No data available.
Financier Commitments
IDA Credit 500.00

Total Project Financing (US$ Millions)

Product Line IBRD/IDA
IBRD Commitment N/A
IDA Commitment 500.00
IBRD + IDA Commitment 500.00
Lending Instrument
Grant Amount N/A
Total Project Cost** 500.00

Summary Status of World Bank Financing (US$ Millions) as of June 30, 2025

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

Detailed Financial Activity as of June 30, 2025

Download:
No data available.
Period Financier Transaction Type Amount (US$)
Oct 1, 2022 IDA-57400 Int Charges 1,624,974.50
Oct 1, 2022 IDA-57400 Int Charges 2,708,290.80
Oct 1, 2022 IDA-57400 Loan Repay 163,876.42
Apr 1, 2023 IDA-57400 Loan Repay 415,629.97
Apr 1, 2023 IDA-57400 Loan Repay 7,490,690.50
Apr 1, 2023 IDA-57400 Int Charges 1,678,296.10
Apr 1, 2023 IDA-57400 Int Charges 1,678,296.10
Apr 1, 2023 IDA-57400 Int Charges 2,797,160.20
Apr 1, 2023 IDA-57400 Int Charges -0.01
Apr 1, 2023 IDA-57400 Loan Repay 0.01
Oct 1, 2023 IDA-57400 Int Charges 2,685,957.50
Oct 1, 2023 IDA-57400 Loan Repay 0.03
Oct 1, 2023 IDA-57400 Loan Repay 58,078.56
Oct 1, 2023 IDA-57400 Loan Repay 7,670,453.50
Oct 1, 2023 IDA-57400 Int Charges 1,611,574.60
Oct 1, 2023 IDA-57400 Int Charges 1,611,574.60
Apr 1, 2024 IDA-57400 Loan Repay 226,166.62
Apr 1, 2024 IDA-57400 Loan Repay 7,553,498.00
Apr 1, 2024 IDA-57400 Int Charges 1,593,063.10
Apr 1, 2024 IDA-57400 Int Charges 1,593,063.10
Apr 1, 2024 IDA-57400 Int Charges 2,655,105.20
Nov 12, 2015 IDA-57400 Loan Commitment 500,000,000.00
Apr 1, 2021 IDA-57400 Loan Repay 8,316,817.50
Apr 1, 2021 IDA-57400 Int Charges 1,892,250.10
Apr 1, 2021 IDA-57400 Int Charges 1,892,250.10
Apr 1, 2021 IDA-57400 Int Charges 3,153,750.20
Apr 1, 2021 IDA-57400 Loan Repay 9,083.08
Oct 1, 2021 IDA-57400 Loan Repay 204,644.02
Oct 1, 2021 IDA-57400 Loan Repay 8,092,223.00
Oct 1, 2021 IDA-57400 Int Charges 1,854,538.40
Oct 1, 2021 IDA-57400 Int Charges 1,854,538.40
Oct 1, 2021 IDA-57400 Int Charges 3,090,897.20
Apr 1, 2022 IDA-57400 Int Charges 1,782,995.80
Apr 1, 2022 IDA-57400 Int Charges 1,782,995.80
Apr 1, 2022 IDA-57400 Int Charges 2,971,659.50
Apr 1, 2022 IDA-57400 Loan Repay 160,313.20
Apr 1, 2022 IDA-57400 Loan Repay 7,952,594.00
Oct 1, 2022 IDA-57400 Loan Repay 7,358,362.50
Oct 1, 2022 IDA-57400 Int Charges 1,624,974.50
Apr 1, 2019 IDA-57400 Int Charges 3,090,369.00
Apr 1, 2019 IDA-57400 Int Charges 26,073.84
Apr 1, 2019 IDA-57400 Int Charges 26,073.84
Apr 1, 2019 IDA-57400 Int Charges 1,828,147.50
Apr 1, 2019 IDA-57400 Int Charges 1,828,147.50
Oct 1, 2019 IDA-57400 Int Charges 1,782,629.60
Oct 1, 2019 IDA-57400 Int Charges 3,032,197.00
Oct 1, 2019 IDA-57400 Int Charges 36,688.60
Oct 1, 2019 IDA-57400 Int Charges 36,688.60
Oct 1, 2019 IDA-57400 Int Charges 1,782,629.60
Apr 1, 2020 IDA-57400 Int Charges 27,106.83
Apr 1, 2020 IDA-57400 Int Charges 27,106.83
Apr 1, 2020 IDA-57400 Int Charges 1,797,407.50
Apr 1, 2020 IDA-57400 Int Charges 1,797,407.50
Apr 1, 2020 IDA-57400 Int Charges 3,040,857.20
Oct 1, 2020 IDA-57400 Int Charges 1,844,777.60
Oct 1, 2020 IDA-57400 Int Charges 1,844,777.60
Oct 1, 2020 IDA-57400 Int Charges 3,140,170.20
Oct 1, 2020 IDA-57400 Int Charges 39,324.49
Oct 1, 2020 IDA-57400 Int Charges 39,324.49
Oct 1, 2017 IDA-57400 Int Charges 1,865,944.80
Oct 1, 2017 IDA-57400 Int Charges 21,870.68
Oct 1, 2017 IDA-57400 Int Charges 21,870.68
Apr 1, 2018 IDA-57400 Int Charges 5,056.63
Apr 1, 2018 IDA-57400 Int Charges 1,941,993.50
Apr 1, 2018 IDA-57400 Int Charges 1,941,993.50
Apr 1, 2018 IDA-57400 Int Charges 3,236,655.80
Oct 1, 2018 IDA-57400 Int Charges 5,811.73
Oct 1, 2018 IDA-57400 Int Charges 5,811.73
Oct 1, 2018 IDA-57400 Int Charges 1,858,601.40
Oct 1, 2018 IDA-57400 Int Charges 1,858,601.40
Oct 1, 2018 IDA-57400 Int Charges 3,107,355.20
Dec 1, 2015 IDA-57400 Loan Disb 489,390,304.00
Apr 1, 2016 IDA-57400 Int Charges 1,254,830.20
Apr 1, 2016 IDA-57400 Int Charges 1,254,830.20
Apr 1, 2016 IDA-57400 Int Charges 2,017,033.00
Oct 1, 2016 IDA-57400 Int Charges 1,864,453.20
Oct 1, 2016 IDA-57400 Int Charges 1,864,453.20
Oct 1, 2016 IDA-57400 Int Charges 3,107,422.00
Oct 1, 2016 IDA-57400 Int Charges 73,648.00
Apr 1, 2017 IDA-57400 Int Charges 1,808,363.90
Apr 1, 2017 IDA-57400 Int Charges 3,020,687.20
Apr 1, 2017 IDA-57400 Int Charges 4,048.54
Apr 1, 2017 IDA-57400 Int Charges 4,048.54
Apr 1, 2017 IDA-57400 Int Charges 1,808,363.90
Oct 1, 2017 IDA-57400 Int Charges 1,865,944.80
Oct 1, 2017 IDA-57400 Int Charges 3,141,443.50

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name Review Date
Progress towards achievement of PDO Moderately Satisfactory 2016-12-13
Program Management Moderately Satisfactory 2016-12-13
Monitoring and Evaluation Satisfactory 2016-12-13
Overall Implementation Progress (IP) Satisfactory 2016-12-13

COMPLETION RATINGS

INDICATORIMPLEMENTATION COMPLETION & RESULTS REPORT: 12-28-2017
OutcomesSubstantial
Risk to Development OutcomeHigh
Bank PerformanceHighly Satisfactory
Borrower PerformanceSubstantial
Government PerformanceSubstantial
Implementing AgencySubstantial

INDEPENDENT EVALUATION RATINGS

INDICATORICR REVIEW: 10-11-2018PROJECT PERFORMANCE ASSESSMENT REPORT:
Outcome RatingModerately Satisfactory N/a
Risk To Development OutcomeHighN/a
Bank PerformanceSatisfactoryN/a
Borrower PerformanceSatisfactoryN/a
Government PerformanceSatisfactoryN/a
Implementing AgencyN/a
Icr QualitySubstantialN/a
M&e QualitySubstantialN/a

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATORBASELINECURRENTTARGET

INTERMEDIATE RESULTS INDICATORS

INDICATORBASELINECURRENTTARGET
  • Subsidies allocated in Federal budget (as percentage of GDP)Value1.800.700.80
    DateJune 30, 2013June 30, 2016June 30, 2016
    Comment
  • Increased bill collection in Distribution Companies (Collection as a percentage of total billing by DISCOs)Value86.0094.6094.00
    DateJune 30, 2013June 30, 2016June 30, 2016
    Comment
  • Increased gas supplyValue3.8 billion SCFD3.8 billion SCFD5 billion SCFD
    DateJune 30, 2013June 30, 2016June 30, 2016
    Comment
  • Separation of market operations and transmission system operationsValueMarket and system operations in single entity (NTDAll contracted power generated by IPPs, GENCOs andAll contracted power generated by IPPs, GENCOs and
    DateJune 30, 2013June 30, 2016June 30, 2016
    Comment
  • Disco performance reports and NEPRA review of performance publishedValueNoYesYes
    DateJune 30, 2013June 30, 2016June 30, 2016
    Comment