WASHINGTON – World Bank on Wednesday said that the delay in negotiationwith the International Monetary Fund (IMF) has made the situation moreuncertain.
The report released by the World Bank stated that the performance of theTrade Development Authority of Pakistan (TDAP), which provides support forexports, is disappointed.
It further stated that the TDAP’s role in providing information toexporters was inadequate.
“Pakistan needs to improve tax system, reduce business costs and increasecompetitiveness for economic stability,” the report said.
According to the World Bank, inflation rate is expected to rise in Pakistanduring the next fiscal year and it could go above 10 percent.
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On the other hand, Addressing a joint press conference along with PrimeMinister s Advisor on Commerce, Abdul Razak Dawood in Islamabad, Board ofInvestment (BoI) Chairman Haroon Sharif said that the government isstriving hard to improve Pakistan s ranking in World Bank s index.
He said now any foreign company can be registered in Pakistan through anonline portal and the entire process will be completed in four hours.
Haroon Sharif said about 8,000 companies have been registered in last sixmonths through online portal.
