In what seems to be the top upward shift ever a country shows in a year, Pakistan managed to climb up to 28 places and increased to the 108th ranking in the index of the Ease of Doing Business from the World Bank, aside from landing in the top ten improvers in the global business climate.
According to the World Bank’s report for 2020 on Thursday, it pointed out that six regulatory reforms’ enactment, inclusive of a concerted enhancement in business regulation, boosted the overall ranking of Pakistan. That result supposedly will better the image of the country for drawing more investments.
The investors in the world use this index as a reliable guide to have a better idea of the national business environment before they create business plans. According to Imran Khan – the country’s Prime Minister, Pakistan had attained the largest enhancement in history. “Over the last decade, our country’s ranking had gone down 50 places and more. Now we have enhanced 28 places to 108 from 136,” he said.
According to the Prime Minister, it was additional commitment of his achieved manifesto. “I would like to congratulate everyone in the government who has worked diligently to make this happen. That said, a long way to go is awaiting us. Before 2020 ends, we will be among the best places for investment.”
According to Razak Dawood – the adviser to the national Prime Minister on Investment, the considerable ranking improvement was a move by the current government to offer a conducive environment to overseas investment. The government has set a big reform target for gaining 70th and 80th places in the ranking by the WB over the next few years.
He also said that Pakistan had attained the first place in the region of South Asia in providing quick reforms.