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Lesson
A robust mechanism for continued consultation needs to be agreed on and put in place to address the fundamental issues in capital market development in Pakistan. Broadly, the program envisaged two key reforms: (i) strengthening the regulatory framework, and (ii) development and Implementation of a comprehensive capital market master plan. During program Implementation, ADB held two consultation workshops with all government and private sector stakeholders, including development partners.

Project Number: 53221-001, 53221-002, 53221-003
Project Name: Third Capital Market Development Program (Subprograms 1 and 2)
Report Date:
Lesson
Land acquisition should be embedded in transport policies. As of 2022, the Prime Minister's Rural Roads Program (PMGSY) was being implemented with no land acquisition. Where land is required, only voluntary-based possession is allowed. If sufficient land cannot be pooled on a voluntary basis, geometric design is being compromised. These locations may become accident black spots. Thus, policy amendment is needed in cases where sufficient land for improvement is unavailable voluntarily; permission should be granted for acquisition of land.

Project Number: 48226-003
Project Name: Second Rural Connectivity Investment Program - Tranche 1
Report Date: