ISLAMABAD: The Board of Investment (BOI) was optimistic that Pakistan’sranking in Ease of Doing Business would show considerable improvements andcome down below 100 when the World Bank releases its next rankings duringMay this year.
“Currently the BOI has been working on evaluating the performance of easeof doing business in two man cities of the country including Karachi andLahore, and reports pertaining to it would be presented in cabinet fordiscussion and finally submitted to the World Bank(WB) for approval,”senior official of BOI told APP here on Monday.
The official said that the government wants to achieve the ambitious targetin ‘ease of doing business’ ranking to bring the country from the place of136 to under than 100 in coming year, which in return would enhance theforeign and local investments and promote economic growth.
As per the previous WB report, Pakistan’s ranking in different indicatorsfor ease of doing business, remained around 100 which is a good sign forpromoting investments into the country.
According to the report, the country ranked at 26th in resolvinginsolvency, at 53 in protecting minority investors among the 190 countriessurveyed.
However, the country ranked at 173 in ‘paying taxes’ indicator and wasranked lower in indicators like getting electricity, registering property,enforcing contracts and trading across borders.
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The official said Pakistan was focusing to evolve strategy to focus onareas where it can improve. He said the government was evolving short,medium and long term strategy for the implementation of reform actionsranging from six months to a year.
Senior official said the strategy also encompasses development of acommunication strategy to build effective feedback mechanisms so thatbottlenecks in implementation are identified in a timely manner and dealtaccordingly.
It would be two-pronged strategy covering communication within thegovernment departments as well as with the general public and directbeneficiaries of reforms, he said.
The government has evolved the strategy for next three year to reforms forproviding more facilities to the businesses in the country.
