Pakistan Has Implemented Various Structural Change And Stabilisation Programmes Over The Last Twelve Years With A View To Improving The Levels Of Efficiency And Consequently Higher Levels Of Output And Employment. Evaluation Of The Impact Of Structural Adjustment And Stabilisation Programme (Sap), That Entails Broad Range Of Policy Conditionalities And Envisage Changes In A Large Number Of Variables Is Quite Complicated And Tools Of Partial Equilibrium Analysis Are Hardly Sufficient. This Is Because The Effects Of The Sap In The Context Of Simultaneous Changes Engendered By Extraneous Powerful Influences, Comparing The Pre-And Post Sap Situation Without Controlling For Factors Other Than Sap, May Not Yield Very Meaningful Results.