LAHORE: As the government keeps on claiming Pakistan as a ‘business-friendly’ country for foreign investors, the report of the World Bank indicate otherwise.
Pakistan was ranked at 136th in 2015, which has gone down to 138th position in 2016 out of total 180 countries in the WB report titled ‘Ease of Doing Business Index’. Reduction of rating by the World Bank has irked the federal government, which kept on claiming that it improved Pakistan’s ranking in the world. The government has sent a letter to all the provincial governments requiring them the reasons as why Pakistan is becoming a difficult country for doing business and how to improve its raking in future.
Planning and Development Department in Punjab has further conveyed the letter from the federal government to the relevant departments and sought reply from them. Sources claimed that the departments from the federal and provincial governments have involved lengthy procedures that are making it difficult for businessmen to do business in Pakistan. Moreover, the World Bank, in its new rating, has pushed Pakistan to 122nd position from 114th position in the category of doing new business. Getting credit is another ordeal in Pakistan where World Bank has moved its raking from 128th position to 133rd position.
In the category of paying taxes, Pakistan was ranked 171st among 180 countries. As far as electricity was concerned, Pakistan was ranked at 157th position.
