Pakistan jumps 11 spots in World Bank\u2019s \u2018Ease of Doing Business\u2019 index
\nThis is the first time Pakistan has improved its ranking in a year since the launch of the report in 2002
\nNEWS DESK
\nISLAMABAD
\nPakistan has improved its ranking by 11 spots in the World Bank\u2019s latest Ease of Doing Business rankings, climbing to 136th from 147th last year.
\nThe country was ranked at 70th in 2002 and 85th in 2009. However, its ranking had deteriorated by more than 100 spots to 147th in 2017.
\nThe annual report, which ranks countries on business-friendliness, procedural ease, regulatory architecture and absence of bureaucratic red tape, comes at a time when the recently elected Pakistan Tehreek-e-Insaf government is approaching friendly countries and the International Monetary Fund to ease the economic crisis facing the country.
\nAddressing the media on Wednesday, renowned economist and Prime Minister Imran Khan\u2019s adviser on commerce, textiles, industries production and investment Abdul Razak Dawood said, \u201cThis is the first time Pakistan has improved its ranking in a year since the launch of the report in 2002.\u201d
\n\u201cThe government is committed to taking steps to facilitate in conducting business and to attract foreign investment,\u201d Dawood said.
\nHe added, \u201cThe decline in the business environment is partially due to the to lack of interest on the part of federal government especially after the 18th Constitutional Amendment when coordination between the federation and the provinces decreased.\u201d
\n\u201cThe government has set the ambitious target for next year to improve its ranking and to bring it under 100.\u201d
\nThe economist further said, \u201cPM Imran has taken a personal interest in improving the business and it is also a part of his 100-day agenda.\u201d
\n\u201cA country\u2019s position in the ranking report indicates its competitiveness as well as highlights the areas where reforms are needed to improve its business climate,\u201d he added.
\nAnswering a question regarding PM Imran\u2019s visit to China, Dawood said, \u201cPakistan wants to expand the scope of China-Pakistan Economic Corridor to increase cooperation in industries, market access and agriculture cooperation.\u201d
\nIn the World Bank\u2019s annual \u2018Ease of Doing Business\u2019 rankings, the top 10 economies are New Zealand, Singapore and Denmark, which retain their first, second and third spots, respectively, for a second consecutive year, followed by Hong Kong SAR, China; Republic of Korea; Georgia; Norway; United States; United Kingdom and FYR Macedonia.<\/p>\n","protected":false},"excerpt":{"rendered":"
Pakistan jumps 11 spots in World Bank\u2019s \u2018Ease of Doing Business\u2019 index This is the first time Pakistan has improved its ranking in a year since the launch of the report in 2002 NEWS DESK ISLAMABAD Pakistan has improved its ranking by 11 spots in the World Bank\u2019s latest Ease of Doing Business rankings, climbing […]<\/p>\n","protected":false},"author":2,"featured_media":33269,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-33260","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"\n