Soe reform time for serious corporate governance

Abstract

This policy paper is motivated by the Government’s “Pakistan: Framework for Economic Growth (FEG) 2011” which places weak corporate governance at the top of the “software” constraints to growth. The efforts to reform the State-Owned Enterprises (SOEs) have stalled in Pakistan for almost five years—with significant negative implications not only in terms of fiscal losses, but also deteriorated and cost-ineffective service delivery. The paper suggests a number of urgent policy measures designed to improve the efficiency and effectiveness of SOEs. These include basic governance reforms, revamped commercialization processes and enhanced market regulations. The paper also provides some perspectives on international experience on SOE reforms combined with some suggestions on how the Government can move forward. The Policy Working Paper Series disseminates the findings of work in progress to encourage the exchange of ideas about development issues. An objective of the series is to get the findings out quickly, even if the presentations are less than fully polished. The papers carry the names of the authors and should be cited accordingly. The findings, interpretations, and conclusions expressed in this paper are entirely those of the authors. They do not necessarily represent the views of the International Bank for Reconstruction and Development / World Bank and its affiliated organizations, or those of the Executive Directors of the World Bank or the governments they represent. SOE Reform: Time for Serious Corporate Governance

Document type: Book

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The different versions of the original document can be found in:

• http://dx.doi.org/10.1596/26831

• http://hdl.handle.net/10986/26831 under the license http://creativecommons.org/licenses/by/3.0/igo

• http://pdfs.semanticscholar.org/7022/c072b58e6fa30720f27c9d879fdc87d5aaf6.pdf