Payments and Securities Settlement Systems in Pakistan
The South Asia Payments and Securities Settlement Initiative (SAPI) objective is to describe and assess the payments and securities settlement systems of the countries of South Asia with a view to identifying possible improvement measures in their...
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| Format: | Report |
| Language: | English en_US |
| Published: |
Washington, DC
2017
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| Online Access: | http://documents.worldbank.org/curated/en/980271468306560764/Payments-and-securities-settlement-systems-in-Pakistan http://hdl.handle.net/10986/27571 |
| Summary: | The South Asia Payments and Securities
Settlement Initiative (SAPI) objective is to describe and
assess the payments and securities settlement systems of the
countries of South Asia with a view to identifying possible
improvement measures in their safety, efficiency and
integrity. To assure quality and effectiveness, the SAPI
includes two important elements. First, all studies are
conducted with the active participation of country officials
and the project builds on the existing work being undertaken
in the respective countries. Second, the initiative draws on
international and national expertise to provide guidance,
advice and alternatives to current practices. This report,
payments and securities settlement systems in Pakistan, is
the first of the public reports in the SAPI series and was
prepared with the active support of the State Bank of
Pakistan. Economic developments in Pakistan during the last
decade have-to a significant extent-been influenced by the
Government's program for poverty reduction and the
development of markets and the real economy. However, the
economic development slowed down in 2008 and 2009, as the
macroeconomic situation deteriorated significantly owing to
adverse security developments, large price increase of some
commodities such as oil and food, global financial turmoil,
and national political and security issues. This strong
macroeconomic performance resulted from the implementation
of a series of important structural reforms. In the early
2000s, the government expanded the role of markets in the
economy, privatized a number of large state-owned
enterprises, established market-based regulatory bodies, and
took steps to reduce the cost of doing business in Pakistan. |
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