ISLAMABAD, Oct 24 (APP):The World Bank (WB) Thursday improved its “Ease of Doing Business” ranking 2020 for Pakistan by 28 points, placing the country among top ten countries that have made reforms and improved their business environment at fast pace.
Pakistan improved its ranking and was placed at 108th position against 136th position, out of total 190 big and small economies of the world, Adviser to Prime Minister on Commerce, Industries and Investment Abdul Razak Dawood said here.
He said this while addressing a launching ceremony of World Bank’s “Ease of Doing Business,” report 2020.
He said that Pakistan had achieved the 6th position in top reformers of the world and also secured 1st position in South Asian region in bringing fast reforms.
Besides Pakistan, the other countries that were included in the top ten list including Saudi Arabia, Kuwait, Jordan, Nigeria, India, China, Bahrain, Tajikistan,Togo.
Razak Dawood said the improvement in EoDB report 2020 was an unprecedented positive jump in the country’s business environment history, which he said would enhance the overall image of the country at world level and help promote investment into the country.
The adviser said that under the visionary leadership Prime Minster Imran Khan, the economic team proved its worth through the improvement in WB, EODB ranking of Pakistan.
He said that Pakistan’s DB score formerly known as distance to frontier improved from 55.31 to 61.
He said the report highlighted that the country was consistently closing the gap between its regulatory environment and global good practices.
The adviser said that Pakistan’s EoDB score improved in seven indicators including starting a business, dealing with construction permits, getting electricity, registering property, protecting minority investors, paying taxes and trading across borders.
He said that improvement in Pakistan position in WB, EODB ranking was achieved due to the coordinated efforts of two provinces including Sindh and Punjab and all national institutions.
He said that in WB, EODB raking 2020 enclosed only two main cities of Karachi and Lahore but “We shall go to provide conducive business environment in all four province for providing equal business opportunities at all over the country,” he said.
He said Khyber Patunkwa (KPK) and Balochistan were also in priority list to provide more facilities to improve business environment in these two provinces, adding that a lot of foreign investment could pour in these provinces.
Razak said the government was committed to facilitating the business in these two cities as well as rural areas. “We are working on model to improve the business at district level.”
Later, talking to reporters, Razak Dawood said that the government would continue its work on further improving the ranking.
“We need to improve more for providing conducive business environment to foreign investors,” he said.
Razak Dawood said the government had set ambitious target for improving the WB, and want to achieve ranking up to 70th and 80th position within couple of years.
Meanwhile, speaking on the occasion, Chairman BOI, said that improvement in EODB ranking was encouraging as it would highlight positive image and attract foreign investment into the country.
He lauded the BOI team that worked on EODB report and all those who put on their efforts at central and provincial levels.
