ISLAMABAD – The World Economic Forum (WEF) has appreciated efforts ofNational Accountability Bureau (NAB) for the eradication of corruption andranked Pakistan at 107 among 140 countries on Global Competitiveness Index(GCI).
The WEF, in its Global Competitiveness Report-2018, has redefinedcombativeness 4.0. The new index provides guidelines for countries to gearup for the fourth industrial revolution.
The report indicates that Pakistan has been ranked at 107 on the new index,however, on backcasting and compared to 2017, Pakistan has improved ninepoints and is ranked 106 this year as compared to 115 last year.
The report has been presented to Chairman NAB, Justice (Retd) Javed Iqbalby Amir Jahangir, Chief Executive Officer (CEO), Mishal Pakistan which isCountry Partner Institute of Future of Economic Progress System Initiative,World Economic Forum, says a press release issued here on Tuesday.
The report indicates that global ranking for incidents on corruption forPakistan has been reduced to 99 in 2018 as compared to 102 last year.
This change reflects NAB’s proactive approach in reaching out the citizensto create awareness about the ill-effects of corruption. NAB’s activitieshave been proven to be more transparent and very efficient across theboard. The recent developments by NAB have increased public’s trust ininstitutions and hope for a more transparent nation.
The Global Competitiveness Index 4.0 methodology has been built on fourdecades of experience in benchmarking competitiveness, the World EconomicForum’s Global Competitiveness Index 4.0 is a new composite indicator thatassesses set of factors that determine an economy’s level ofproductivity-widely considered as the most important determinant oflong-term growth.
The GCI 4.0 framework is built around 12 main drivers of productivity.
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These pillars are institutions, infrastructure, technological readiness,macroeconomic context, health, education and skills, product market, labourmarket, financial system, market size, Business dynamism and innovation.They comprise 98 individual indicators.
The report is part of World Economic Forum’s Centre for New Economy andSociety which aims at building dynamic and inclusive economies in an era ofaccelerated technological and political change, providing leaders with aplatform to understand and anticipate emerging economic and social trendsand to adapt policies and practices to our rapidly evolving context.
A significant portion of the centre’s work focuses on shaping frameworksfor fostering growth and inclusion, including an accelerator for industrialpolicy and competitiveness in the Fourth Industrial Revolution.
The Centre is also supporting developed and emerging economies in settingup public-private collaborations to close skills gaps and prepare forfuture of work as part of its human capital agenda.
Finally, the Centre acts as a testbed for exploring emerging contours ofthe new economy, including rethinking economic value, investment strategiesfor job creation and new safety nets.
The Global Competitiveness report’s new methodology also offers insightsinto economies readiness for future, social capital, endowment ofdisruptive businesses and debt concerns, among other indicators. – APP
