Prime Minister Imran Khan on Thursday expressing satisfaction over the improved World Bank rating of Ease of Doing Business (EODB) by 28 notches said Pakistan by the end of 2020 would become one of the top places for investment.
“Another of our manifesto commitments fulfilled, this time on Ease of Doing Business. Pakistan achieves biggest improvement in its history in World Bank’s EODB rankings,” the prime minister said in a tweet.
The prime minister said over last decade Pakistan’s ranking had slipped more than 50 places and now had improved 28 places, from 136 to 108.
“I want to congratulate all the people in our government who worked hard to make this happen,” he said, however stressed that there was still a long way to go.
Pakistan has jumped up 28 places on the World Bank’s (WB) Ease of Doing Business Index and secured a place among the top 10 countries with the most improved business climate – a development that will greatly improve Islamabad’s image abroad,
Pakistan carried out six reforms that helped improving its ranking from 136 to 108, according to the WB’s annual flagship report, ‘Ease of Doing Business 2020′, released on Thursday. It turned out to be the sixth global reformer and first in South Asia that brought ease in doing business in the last one year.
The fewer are the regulations the better is the ranking on the index. The key to attain perfection is to cut the bureaucracy hindering business activities in the name of various regulations and procedures.
The WB monitors a country’s business related regulations on 10 benchmarks that are as broad as from starting a business, to getting electricity connection, securing construction permits, paying taxes, dispute resolution, business insolvency and protecting minority shareholders’ rights. All these areas are closely looked at by the global investors before they take decisions on making investment.
