Pakistan Shows 9 Points Improvement On World Economic Forum Rankings
WEF (World Economic Forum) has appreciated Pakistan’s efforts to effectively curb corruption and has lauded NAB (National Accountability Bureau) for taking serious measures towards assuring transparency in Government departments.
Following that, Pakistan’s ranking on Global Competitiveness Index (GCI) has also improved, and it now stands on 107 among 140 countries. In its Global Competitiveness report for the year 2018, WEF has redefined the competitiveness index 4.0.
The new report provides countries with guidelines to prepare and gear up for the fourth industrial revolution. As per the new index, Pakistan has been ranked at the 106th position this year, as compared to 115th last year.
The report was presented to NAB Chairman Justice (retd) Javed Iqbal by Amir Jahangir, Mishal Pakistan Chief Executive Officer (CEO). The report also indicated that in global ranking for corruption incidents, Pakistan has also improved and has reduced to rank 99 this year as compared to 102 last year.
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The improvement in ranking is shown due to NAB’s vigilant and alert role in reaching out to the public and educating them about damages of corruption on the individual and collective level. NAB’s activities have proven to be transparent and quite effective, improving overall people’s faith in public institutions.
The Global Competitiveness Index 4.0 methodology has been built after four decades of experience in benchmark competitiveness. The WEC Global Competitiveness Index 4.0 is a new composite indicator that asses set of factor’s determining economy, the economy’s level of productivity and is considered a determining factor for long-term growth.
The GCI 4.0 is built around twelve man drivers of productivity. These 12 pillars are business dynamism, innovation, market size, financial system, labour market, product market, education and skills, health, macroeconomic context, technological readiness, infrastructure and institutions.
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