PK PRSC II

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This Second Poverty Reduction Support Credit Project (PRSC II) emphasizes sustained, rapid growth as the main vehicle for poverty reduction and focuses on: (i) accelerating economic growth while maintaining macroeconomic stability; (ii) improving governance and devolution; (iii) investing in human capital; and (iv) targeting the poor. The PRSC II supports reforms by the Government of Pakistan that will contribute to economic growth by: maintaining macroeconomic stability; improving the management and effectiveness o f public expenditures; assisting power sector reforms; supporting the privatization program and improving the regulatory framework for competition; and enhancing female labor force participation and labor market flexibility. The PRSC II will also support improved governance through reforms in financial management, procurement, and the statistical system. It will help accelerate progress in human development by creating additional public resources for education and health, strengthening the health and education national sector policies; and piloting innovative programs, focusing on the poor, to enhance demand for these services. The PRSC II also supports the poorest and most vulnerable segments of the population through targeted programs aimed at addressing poverty and vulnerability directly.