
Pakistan saves billions through UK-backed governance reforms
Working closely with provincial governments, the programme has helped to achieve savings to reinvest into other public services. For example, it helped the Government of Punjab to develop a comprehensive pensions reform plan. This included the introduction of a new pensions scheme where both the employer and employee pay in, which is expected to save the Government of Punjab PKR 2.7 trillion over the next 30 years.
Reforms through the programme have also directly supported people's livelihoods. In Punjab, 35 million people's social and economic data was collected, meaning the government can now better target urgent cash assistance and food subsidies.
The programme helped design and rollout social protection initiatives such as Ba-Himmat Buzurg, which offers elderly people with no source of income financial assistance, and the Himmat Card which provides financial support for people with disabilities in Punjab. In KP, it helped overhaul waste management, introducing sustainable door-to-door waste collection which is now being scaled up across the province.
British High Commission Development Director, Sam Waldock said, 'This programme shows what is possible when strong partnerships come together to support long-term reform, changing people's lives.
We've strengthened institutions, improved service delivery, and helped Pakistan unlock more of its resources to finance its own development. That has led to direct improvements to the day to day lives of millions - from helping people to access essential cash assistance, to creating waste management systems which makes their surroundings cleaner and more hygienic.'
The UK's work on governance reform in Pakistan will continue. In collaboration with UN Development Programme, the UK will continue to focus on sustained institutional reform and improved public financial management. Several key initiatives, including further reforms to provincial pension schemes, will be carried forward in the UK's new National Governance Programme.
Copyright Business Recorder, 2025
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Business Recorder
9 hours ago
- Business Recorder
Pakistan to create new force in military to supervise missiles
ISLAMABAD: Pakistan will create a new force in the military to supervise missile combat capabilities in a conventional conflict. Prime Minister Shehbaz Sharif announced the creation of the Army Rocket Force late Wednesday at a ceremony held in Islamabad to commemorate the worst conflict in decades with India in May. The ceremony was held a day ahead of Pakistan's 78th Independence Day. 'It will be equipped with modern technology,' Sharif said in a statement from his office, adding that the force will prove to be a milestone in strengthening the combat capability of Pakistan's army. He did not give any further details. A senior security official, however, said that the force will have its own command in the military which will be dedicated to handling and deployment of missiles in any event of a conventional war. PM Shehbaz Sharif attends flag hoisting ceremony at Pakistan Monument in Islamabad 'It is obvious that it is meant for India,' he said. The two nuclear-armed nations keep upgrading their military capabilities in the wake of a longstanding rivalry since their independence from British rule in 1947. The latest tension between the two countries soared in April over the killing of 26 civilians in Indian Illegally Occupied Jammu and Kashmir (IIOJK), an attack New Delhi blamed on Islamabad. Pakistan denied involvement. A conflict then erupted in May, the most serious fighting between the two countries in decades, which saw both sides using missiles, drones and fighter jets before it ended with a cease-fire announcement by US President Donald Trump. Islamabad acknowledges the US role, but India denies it, saying it was agreed directly between the two militaries.


Business Recorder
12 hours ago
- Business Recorder
Pakistan saves billions through UK-backed governance reforms
ISLAMABAD: The UK's Sub-National Governance Programme ran from 2019 to 2025, unlocking over £1.9 billion in public finance through improved planning, budgeting, and revenue mobilisation. Working closely with provincial governments, the programme has helped to achieve savings to reinvest into other public services. For example, it helped the Government of Punjab to develop a comprehensive pensions reform plan. This included the introduction of a new pensions scheme where both the employer and employee pay in, which is expected to save the Government of Punjab PKR 2.7 trillion over the next 30 years. Reforms through the programme have also directly supported people's livelihoods. In Punjab, 35 million people's social and economic data was collected, meaning the government can now better target urgent cash assistance and food subsidies. The programme helped design and rollout social protection initiatives such as Ba-Himmat Buzurg, which offers elderly people with no source of income financial assistance, and the Himmat Card which provides financial support for people with disabilities in Punjab. In KP, it helped overhaul waste management, introducing sustainable door-to-door waste collection which is now being scaled up across the province. British High Commission Development Director, Sam Waldock said, 'This programme shows what is possible when strong partnerships come together to support long-term reform, changing people's lives. We've strengthened institutions, improved service delivery, and helped Pakistan unlock more of its resources to finance its own development. That has led to direct improvements to the day to day lives of millions - from helping people to access essential cash assistance, to creating waste management systems which makes their surroundings cleaner and more hygienic.' The UK's work on governance reform in Pakistan will continue. In collaboration with UN Development Programme, the UK will continue to focus on sustained institutional reform and improved public financial management. Several key initiatives, including further reforms to provincial pension schemes, will be carried forward in the UK's new National Governance Programme. Copyright Business Recorder, 2025


Business Recorder
13 hours ago
- Business Recorder
Dollar extends losses
NEW YORK: The dollar fell for a second straight session on Wednesday, a day after a US inflation reading increased expectations of a Federal Reserve rate cut next month, and renewed pressure from President Donald Trump for lower rates added to the sell-off. The dollar index, measuring the currency against a basket of peers, fell 0.2% to 97.81, its lowest since July 28, extending its 0.5% drop on Tuesday. US consumer prices increased marginally in July, data showed on Tuesday, in line with forecasts and as the pass-through from Trump's sweeping tariffs to goods prices has so far been limited. Investors priced in a 98% chance the central bank would ease rates next month, according to LSEG data. On Wednesday, Treasury Secretary Scott Bessent called for a 'series of rate cuts,' and said the Fed could kick off the policy rate easing with a 50 basis point cut. The day before, US President Donald Trump, who has repeatedly criticised Fed Chair Jerome Powell for not easing rates sooner, had added to the pressure on the Fed. White House spokeswoman Karoline Leavitt said that the president was considering a lawsuit against Powell in relation to his management of renovations at the central bank's Washington headquarters. 'I think there is quite significant pressure on the Fed from the political side of Washington to get moving on interest rates,' Shaun Osborne, chief currency strategist at Scotiabank, said. Michael Pfister, FX analyst at Commerzbank, said these political developments carried echoes of autocratic countries, where heads of statistics agencies or central banks are replaced and critical data series often discontinued or manipulated. 'I'm not saying that this will necessarily happen here. But the developments of the last few days and weeks do not exactly fill me with optimism about the future, or the US dollar,' Pfister said. Trump also hit out at Goldman Sachs CEO David Solomon, saying the bank had been wrong to predict US tariffs would hurt the economy. Trump questioned whether Solomon should lead the Wall Street institution. The dollar's weakness supported the euro and sterling. The single currency was last up 0.3% to $1.1705, briefly hitting its highest since July 28. Similarly, the British currency rose 0.5% to $1.3572, briefly hitting its highest since July 24. Britain's jobs market weakened again, though wage growth stayed strong, according to data on Tuesday, underscoring why the Bank of England is so cautious about cutting interest rates. The Australian dollar was up 0.3% to $0.6550, while the New Zealand dollar rose 0.5% to $0.5982. The Reserve Bank of Australia on Tuesday cut interest rates as expected, and signalled further policy easing might be needed to meet its inflation and employment goals as the economy lost some momentum. In cryptocurrencies, ether scaled a nearly four-year high of $4,734.47.