ISLAMABAD: The annual report of World Bank stated that Pakistan has jumped from 136th spot to 108 in this year’s ‘Ease of Doing Business 2019’.
Pakistan has climbed 28 ranks on the World Bank’s Ease of Doing Business Index 2020 to gain 108th position. The country has also secured a place among the top ten global business climate reformers.
Although Advisor Commerce Abdul Razzaq Dawood said that Pakistan has suffered a downfall in three points and there were six where they had the best performance.
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The credit rating of Pakistan has dropped from 112 to 119, while the country’s rating related to the protection of small investors has dropped from 26 to 28.
According to the World Bank’s annual report, the ranking of Pakistan in power connection increased from 167 to 130 and 161 to 151 in property registration.
Similarly, Pakistan’s ranking in tax payments has improved from 173 to 161 while Pakistan is still at 156 in contract enforcement.
The WB report said that Pakistan made starting a business easier by expanding procedures available through the online one-stop-shop in both Sindh and Punjab.
The World Bank in its reports also listed Pakistan among the top ten improvers along with Saudi Arabia, Jordan, Togo, Bahrain, Tajikistan, Kuwait, China, India, and Nigeria.
In the report, New Zealand and Singapore were able to maintain the first and second spots, respectively. While China moved to number three from last year’s four and pushed Denmark to the fourth spot.
India also made a significant improvement in its ranking by ending up on the 63rd spot from last year’s 77.
In South Asia India still remained at the top by improving 14 positions and clinched to 63rd rank.
