In a significant progress, Pakistan improves 28 places in Ease of Doing Business Index
According to the ranking of 2018, Pakistan secured 136th position while 190 countries were surveyed.
In a significant development, particularly for Pakistan’s global image, Islamabad jumps a drastic 28 points on the World Bank’s Ease of Doing Business Index. It is now standing at 108th spot and has also secured a position among the top ten global ‘business improvers’.
Pakistan has successfully implemented in the last year. It has improved its ranking from 13th position to 108th spot. The progress was revealed in the World Bank’s annual flagship report “Ease of Doing Business 2020”, released today.
According to a report that garners most attention by the world’s investors, the countries which have shown improvement and will be significant for them in the coming year are:
- Saudi Arabia
- and Nigeria
Among the South Asian nations, India was ranked number one, clinching 63rd position overall. Pakistan improved 28 positions in a single year. According to the ranking of 2018, Pakistan secured 136th position while 190 countries were surveyed.
Pak achieves biggest improvement in our history in world bank's ease of doing business rankings. We improved 28 places from 136th to 108th. In the last 10 years pak ranking had worsened by more than 50 places! Fundamental reform is the only way we will have sustainable progress
— Asad Umar (@Asad_Umar) October 24, 2019
“This rise is significant and made possible by collective and coordinated actions of Federal Government and Provincial Governments of Sindh and Punjab over the past year,” said Illango Patchamuthu, World Bank Country Director for Pakistan.
“The accelerated reform agenda has many noteworthy features to improve the quality of regulations, reduce time and streamline processes. This momentum needs to be sustained in the coming years for Pakistan to continue to make progress”, he continued.
The country director also played his part in making Pakistan realize the significance of these rankings, suggesting the needed reforms. The report is particularly based on reports from Lahore and Karachi and analyzed the world done between 2018-2019.
Speaking about the measure of absolute progress towards best practices, Pakistan has shown significant improvement as well. Its score has improved to 61 from 52.8. Investors all across the globe consider the said report and the Global Competitiveness Index of the World Economic Forum before taking decisions on investment plans. Hence, progress is likely to unlock some significant business opportunities for Pakistan on the global level.
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