WASHINGTON/ ISLAMABAD – Pakistan has improved its ranking in the World Bank’s ease of doing business global ranking 2019, jumping 11 spots to the 136th position from 147th last year.
The ‘Doing Business Report 2019′ by the WB comes at a time when Pakistan is approaching friendly countries and the International Monetary Funds (IMF) for bailout packages to bring stability to the shaky economy of the country.
The WB’s ranking is likely to boost investors confidence in Pakistan, attracting more investment in different sectors.
This is the first time Pakistan has improved its ranking since the launch of the 2002 report when the country was ranked at 70th. Its ranking dropped to 85th in 2009 while a deteriorated situation occurred in 2017 when it went down to 100 places to 147th position.
A regional overview in the light of the report shows India leapfrogged 23 spots to 77th position on the ease of doing business list. The report released lists India and China as the two large economies which are among the 10 biggest reformers among 190.
New Zealand, Singapore and Denmark were on top of the list.
Adviser to the Prime Minister on Commerce, Textile, Industry and Investment Abdul Razak Dawood while addressing the media said that PTI government was committed to attracting more foreign investment by reducing the cost for doing business and introducing friendly policies.
Unlike before, the country’s ranking was now moving up gradually, he said, adding that the government had set an ambitious target for next year to jump more points to bring the ranking under 100.
