*ISLAMABAD: *
The International Monetary Fund link (IMF) has saidthat business environment can be improved by improving accountabilitysystem, enhancing institutional coordination and improving civil serviceand professional and competitive environment.
In a report entitled ‘Economic Governance Reforms to Support InclusiveGrowth’, the IMF has stated that Pakistan linkreduced the period for obtaining permits required for constructionlinkthroughreforms of the business laws.
“Pakistan is one of the countries in the Middle East, North Africa andCentral Asia, where time period has reduced because of the measures takenfor the development of the construction sector,” according to the IMFreport.
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The report has also said that digitisation and e-services initiatives couldhelp improve the quality of services by limiting individual decisions,adding that offering incentives can also help improve performance.
Citing the example of Pakistan, the IMF has said that the country hasincreased tax revenues by giving incentives to tax collectors. Over thepast decade, it has added, developing countries have taken a number ofsteps to improve business environment and regulations, which have increasedthe provision of business facilities.
