Pakistan at 85th among 183 economies

[LahoreEstate]

Pakistan at 85th among 183 economies

By Adeel Pathan

BERLIN: Pakistan is ranked 85th among 183 economies of the world and it is leading in South Asia including its neighbour India but poor ratings continue for another year in the category of employing workers, said the World Bank report on ‘Doing Business 2010’.

The country has seen a boom in the investment sector after economic recession hit major economic powers of the world and the position of Pakistan is also providing better environment for doing business in South Asia. Pakistan also made it easier to start business by introducing e-service registration system because at an average.

The report retains 10 indicators including starting a business, dealing with construction permits, employing workers, registering property, getting credit, protecting investors, paying taxes, trading across borders, enforcing contracts and closing a business. According to the report, Pakistan is improving at the South Asian level, however the data show that the country went down 17 points to 80 from 63 in 2009 in the category of ‘Starting a Business’ and there it comes the credibility of present government which is infamous for corruption.

Dealing with construction permits, Pakistan rose from 105 to 100 but no improvement was made in the category of employing workers as it remained on the same position of 146. Good signs for registering the property where its standing has been raised to 8 points and also a progress was seen in the report regarding getting credit, protecting investors and paying taxes are concerned.

According to co-author of the doing business 2010 report Daliha Khalifa, in an active year of business regulatory reforms, economies in South Asia have picked up their reform pace-though there is still room for more action.

A record of 131 out of 183 economies around the globe reformed business regulation between June 2008 to May 2009, according to doing business 2010: reforming through difficult times, the seventh in a series of annual reports published by IFC and the World Bank.

http://e.thenews.com.pk/9-19-2009/page18.asp#;