Pakistan gets yet another positive news on the economic front

ISLAMABAD: Adviser to Prime Minister on Commerce, Industries and Investment Abdul Razak Dawood on Thursday said that improvement of country's ranking in “Ease of Doing Business" by the World Bank was huge achievement of the government to attract more foreign investment. The commerce adviser said after this achievement Pakistan's economy would be more integrated to the global economy and this linkage would bring foreign investment to the country.

The World Bank had improved Pakistan's ranking in ease of doing business from previous 136 to 108 out of total 190 big and small economies of the world, the adviser said this while addressing “Doing Business Reforms Exhibition" along with Chairman Board of Investment (BOI) Zubair Gilani and others, organized by BOI here.

In future “We require more hard work for achieving the country's World Bank, EODB ranking more up to 50 positions", he said.

The World Bank improved its “Ease of Doing Business" ranking 2020, for Pakistan by 28 points, placing the country among top ten countries that had made reforms and improved their business environment at fast pace.

He said that Pakistan had been ranked among 6th top reformers of the world and first in South Asia.

Razak Dawood said the improvement in EODB report 2020, was an unprecedented positive jump in the country's business environment, which he said would enhance the overall image of the country at world level and help promote investment to 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.

Razak 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.

While, addressing the audience, Chairman BOI Zubair Gilani said economic stability and growth was top priority of the government for providing relief to the people.

He said that transfer of technology and automation was real change to transform the institutions for providing EODB to the foreign investors in the country.

He 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.