Strategy devised to improve Pakistan’s doing business rank


ISLAMABAD, Oct 31 (APP): After improvement in country’s doing business index for year 2017, the government has devised a comprehensive action plan to further improve the ranking for the year 2018.
Pakistan’s doing business index position improved from 148 out of 189 countries to 144 out of 190 countries, according to the World Bank (WB) Doing Business report 2017.
Pakistan improved its position from 148 (DB-2016) of 189 to 144 (DB-2017) out of 190 countries under the new methodology.
On the Distance to Frontier (DTF) metric, Pakistan’s score went up from 49.48 (DB2016) to 51.77 (DB2017), using a comparable methodology.
According to a press statement issued by the Board of Investment (BoI), Pakistan’s performance in the Doing Business 2017 is encouraging, as a beginning of a reform process that needs to be sustained in the coming years to make long-term improvements.
The country is recognized as one in the list of ten economies making the biggest improvements in their business regulations – the only from South Asia, it added.
Board of Investment, Economic Reform Unit (ERU), Finance Division and Prime Minister’s Office has worked hard to achieve this target including assistance and coordination from all provincial governments, the statement added.
However, for further improvement in ranking 2018 an Action Plan for improving the Pakistan ranking in the Doing Business, 2018 has been prepared.
The strategy aims to sensitize the provincial governments and authorities concerned of the significance of the doing business reforms in the country for creating an enabling and competitiveness investment and business environment for attracting FDI in the country and to initiate reforms measures in each province.
The strategy envisages dissemination of information update to the private sector about reform measures already taken in various business indicators by the relevant government authorities so that a correct information may be conveyed to the WBG.
The action plan would pursue the targets assigned to federal and provincial stakeholders for reducing number of processes, time period and cost involved in respective business indicators and increase utilization of Fast Track Service (FTS) /Virtual One Stop Shops (VOSS) in registering businesses so that the same may be reflected in DB-2018.
It also aims to increase utilization of online land management system at Karachi, pursue Law and Justice Ministry for computerized judicial system and establishment of Commercial Courts to settle business disputes in Karachi.
The action plan would also pursue Federal Board of Revenue’s Customs Authorities for expansion of Web-Based software for Custom clearance (WeBOC) to SBP, NTC and other authorities, concerned.
The new strategy envisages to pursue Sindh/Punjab Governments for development of one web portal for Construction Permits and one web portal for paying provincial taxes at Karachi and Lahore.