PTI government unveils new step to further improve Ease of Doing Business in Pakistan
ISLAMABAD - In order to further improve its ranking at the ease of doing business, Pakistan is all set to establish special commercial courts to timely resolve business disputes.
The announcement was made by Board of Investment (BoI) Secretary Omer Rasul, who was of the view that the establishment of special commercial courts would help resolving business cases in a year that would help Pakistan's economy, reported local media.
The measures are taken to improve Pakistan rankings further after the country emerged as one of the biggest improvers in World Bank's latest Ease of Doing Business Index 2020, jumping up 28 places on the index and clinching the 108th position, as compared to 136th spot last year.
Adviser to Prime Minister on Commerce, Investment, Industries and Textile, Abdul Razak Dawood said that Pakistan would further improve its ranking in Ease of Doing Business with consistent efforts of federal and provincial governments.
Dawood said that ranking of a country on Ease of Doing Business Index helped foreign companies take decision of investment in the country. He said that jump in ranking from 147th to 136th and then 108th on the Doing Business 2020 Report is giving a message that Pakistan is on the right track on reforms.
“It is pressure from the top and efforts from the bottom and a lot of good coordination helped the country to improve the ranking," he said, adding the Prime Minister was regularly holding meetings on the ease of doing business.
Pakistan was also among the countries to make the most notable improvement in Doing Business 2020, sitting alongside Saudi Arabia, Jordan, Togo, Bahrain, Tajikistan, Kuwait, China, India, and Nigeria.