Due to the reforms introduced by previous federal and provincial governments, Pakistan has improved on Word Bank’s Ease of Doing Business Index. Pakistan has improved 11 positions and now stands at 136th position – for the first time in 15 years.
Pakistan has adopted reforms in three particular areas in the past years, that have lead to the displayed improvement. These three key areas are: registering property, resolving insolvency and starting a business according to the World Bank’s annual flagship report released on Wednesday, titled “Ease of Doing Business 2019”.
With that, Pakistan has also shown improvement and progress on indicators of trading across borders, paying taxes, getting credit, securing construction permits and getting electricity.
Last year, Pakistan stood at the 147th spot among the 190 nations that were part of the survey.
The World Bank’s Ease Of Doing Business Index guides the countries about the situations in the nations under survey, help them learn more about their economies so that they know where to pour their money in.
The credit of the reforms goes to the last Pakistan Peoples Party (PPP) government in Sindh and the Pakistan Muslim League-Nawaz (PML-N) governments in the centre and Punjab. The report includes surveys basically conducted in Lahore and Karachi and results are based on the work done between November 2017 to June 2018.
“It was for the first time when I could really see people from federal and provincial governments putting energy to improve the country’s position” – said llango Patchamuthu, World Bank Country Director to Pakistan.
He further added that 136th spot is not very pretty either, but definitely, we are headed at the right road. The report also measures how close the economy is to best global practices in business regulations. On the measure of absolute progress toward best practices, Pakistan has improved to a score of 52.8, which shows that the country actually showed commendable progress this time.
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