Islamabad: The Board of Investment (BoI) expects Pakistan’s Ease of Doing Business ranking to fall below the 100 mark this year, a news source reported. The World Bank is expected to release the new rankings in its annual report in May.
Currently, the BoI is evaluating the performance of ease of doing business reforms recently introduced in Karachi and Lahore. Subsequent reports will be presented before the cabinet for discussion, and then submitted to the World Bank for approval.
A BoI official said that the government wants Pakistan’s ranking improved from its current 136th position to below 100 in the coming year. This change is expected to usher in enhanced prospects for foreign and local investment, and promote economic growth.
In the last World Bank report, Pakistan had ranked 26 in checking insolvency, and 53 in protecting minority investors among the 190 countries surveyed.
However, Pakistan was ranked 173 under the ‘paying taxes’ indicator. Its rank was equally lower in indicators like provision to electricity, property registrations, contracts enforcement, and trading across borders.
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