The World Bank has recently released its annual report on ‘Ease of Doing Business 2020’
Doing Business 2020: Accelerated Business Climate Reform Agenda Puts Pakistan Among Top 10 Improvers
As you are aware, the World Bank has recently released its annual report on ‘Ease of Doing Business 2020’. As regards Pakistan, the report acknowledges/highlights significant improvements by Pakistan salient points are of which are as under:
- Pakistan has moved 28 places up on the Ease of Doing Business Index, securing a place among the top 10 countries with the most improved business climate.
- Pakistan carried out six reforms in the last one year that helped improving its ranking from 136 (in ‘Ease of Doing Business 2019’) to 108 among 190 nations (it ranked 144 for 2018). These reforms included starting a business, dealing with construction permits, getting electricity, registering property, paying taxes, and trading across borders. The Report praised Pakistan for following an ‘ambitious reform strategy’.
- On the measure of absolute progress towards best global practices in business regulations, Pakistan has improved the score to 61 from 52.8, suggesting that the country did positive work in improving its position during the last one year.
- Among the top 11 economies (countries with population of more than 100 million), Pakistan ranked as number one reformer in the world.
- The new ranking of Pakistan by the World Bank illustrates the success of Government’s continued efforts to undertake necessary reforms for improving the business climate in the country.