Description: Pakistan : Contingent Liabilities from Public Private Partnerships

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Pakistan : Contingent Liabilities from Public Private Partnerships

This final report is the fourth and final deliverable in Castalia's assignment, funded by the World Bank, to improve how contingent liabilities are managed in Pakistan. The report presents recommendations on how Pakistan should improve its pol...

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Bibliographic Details
Main Author:	World Bank
Language:	English en_US
Published:	Washington, DC 2013
Subjects:	ACCESS TO INFORMATION ACTS OF GOD ANNUITY ASSET OWNERSHIP ASSETS BARRIERS TO ENTRY BENEFICIARY BIDS BONDS BREACH BREACHES BUDGETING CAPACITY BUILDING CASH FLOW CASH FLOWS CLAUSE CLAUSES COLLECT PAYMENT CONCESSION CONCESSION CONTRACT CONCESSIONS CONSUMER CONTINGENT LIABILITIES CONTINGENT LIABILITY CONTRACT CLAUSE CONTRACT CLAUSES CONTRACT DESIGN CONTRACTUAL ARRANGEMENT COST OF DEBT COVERAGE COVERAGE RATIO CREDIBILITY CREDIT AGENCIES CREDIT CONTRACT CREDIT ENHANCEMENT CREDIT RATING CREDIT RATING AGENCIES CREDIT RATINGS CURRENCY DEBT DEBT GUARANTEES DEBT LEVELS DEBT POLICY DEBT RATIOS DEBT REPAYMENTS DEBT SERVICE DEFAULTS DEPENDENT DISCLOSURE DISCRIMINATORY TAX DUE DILIGENCE ECONOMIC DOWNTURN EQUIPMENT EQUITY CONTRIBUTIONS EQUITY RETURN EVENT OF DEFAULT EXCHANGE RATE EXCHANGE RATE GUARANTEES EXCHANGE RATES EXISTING ASSETS EXPENDITURE FAIR MARKET VALUE FINANCES FINANCIAL CAPACITY FINANCIAL CONDITION FINANCIAL CONDITIONS FINANCIAL CONTRACT FINANCIAL INSTITUTIONS FINANCIAL LIABILITIES FINANCIAL OBLIGATION FINANCIAL OBLIGATIONS FINANCIAL RISK FINANCIAL STATEMENTS FINANCIAL STRUCTURE FINANCIAL STRUCTURES FINANCIAL SUPPORT FINANCIER FISCAL BURDEN FISCAL DEFICIT FISCAL POLICY FORCE MAJEURE FOREIGN CURRENCY FOREIGN CURRENCY DEBT FOREIGN EXCHANGE GOVERNMENT GUARANTEE GOVERNMENT GUARANTEES GOVERNMENT INTERVENTION GOVERNMENT POLICY GUARANTEE FUND GUARANTEE FUNDS HOLDING INFLATION INFLATION RISK INFRASTRUCTURE INVESTMENT INSOLVENT INSPECTIONS INSTITUTIONAL ARRANGEMENT INSTITUTIONAL FRAMEWORK INSTRUMENT INSURABLE RISKS INSURANCE INSURERS INTEREST RATE INTEREST RATE CHANGES INTEREST RATE RISK INTEREST RATE SWAP INTEREST RATES ISSUANCE LEASE LEGAL AGREEMENT LENDERS LETTERS OF CREDIT LIABILITY MANAGEMENT LIABILITY RISKS LICENSE LIQUIDITY LOAN LOCAL CURRENCY LONG-TERM FINANCING LOSS OF REVENUE LOSS OF VALUE MANDATES MITIGATION MODEL CONTRACTS NEGOTIATIONS OUTSTANDING DEBT PARTIAL RISK PAYMENT OBLIGATION PAYMENT OBLIGATIONS PENALTIES PERFORMANCE BOND PERFORMANCE BONDS PREMATURE TERMINATION PRIVATE FINANCE PRIVATE INVESTMENT PRIVATE PARTY PROCUREMENT PROCUREMENT PROCESS PROVISIONS PUBLIC DEBT RATE OF RETURN RECURRENT COSTS REGULATORY FRAMEWORK REGULATORY SYSTEM REMEDY REPATRIATION RESERVE RESERVE FUND RESERVE FUNDS RESERVES RETURN RETURNS RISK ALLOCATION RISK ANALYSIS RISK EXPOSURE RISK PROFILE RISK SHARING SINKING FUND SOVEREIGN RISK SUB-CONTRACTORS SUBCONTRACTOR SUBCONTRACTORS TAX TERMINATION TERRORISM THIRD PARTIES TRANSACTION TRANSFER RISK TRANSPARENCY VALUATION VALUATION METHOD VALUATIONS WITHDRAWAL
Online Access:	http://documents.worldbank.org/curated/en/2010/07/16257734/pakistan-contingent-liabilities-public-private-partnerships-final-report http://hdl.handle.net/10986/12386

Description
Summary:	This final report is the fourth and final deliverable in Castalia's assignment, funded by the World Bank, to improve how contingent liabilities are managed in Pakistan. The report presents recommendations on how Pakistan should improve its policies and processes for issuing and managing contingent liabilities associated with public private partnerships (PPPs) in infrastructure. The contents of this report are organized as follows: section two explains why it is important for Pakistan to establish sound policies for managing contingent liabilities, based on the Government's existing exposure and gaps in the policies and processes that are currently in place. The Status Quo Report presented in appendix A provides an assessment of the Government's exposure to contingent liabilities and the existing policies and processes that are in place. Section three explains how Pakistan can better manage contingent liabilities by presenting recommendations to eight specific functions that will strengthen existing PPP policies. Section four analyzes options for who should perform the functions for managing contingent liabilities, and explains why we recommend empowering existing institutions in the preferred institutional framework. Section five presents the steps we suggest that the Government follows to implement these recommendations and operationalize an effective contingent liabilities management framework. Finally, section six presents assessment of international experience and good practice in managing contingent liabilities to provide additional context for recommendations in Pakistan. Appendix A includes the Status Quo Report from the first stage of this assignment. Appendix B includes a summary of the stakeholder consultation workshop conducted in Islamabad on July 21 to receive feedback on the draft recommendations for this assignment.