Business

Ease of Doing Business: WB Group ranked Pakistan 128 out of 189

KARACHI: The World Bank Group ranked Pakistan 128th among 189 countries assessed in their latest survey named ‘Ease for Doing Business’ 2015.

The report released on Wednesday, used new data and methodology in three areas includes resolving insolvency, protecting minority investors, and getting credit.

To analyze the business climate in the country, World Bank Group covered Karachi and Lahore to collect labour market regulation data.

It added that report did not find significant differences between the two cities in terms of business climate.

Next year, Doing Business will enhance methodology, data collection, and analysis for five more indicators: obtaining construction permits, getting electricity, registering property, paying taxes, and enforcing contracts.

AFP adds, small and well-run Singapore, New Zealand and Hong Kong are the world’s easiest places to run a business, while global giants China, Brazil and India remain far down the list, according the World Bank.

The top 10 was filled out by Denmark, South Korea, Norway, the United States, Britain, Finland and Australia, mostly the same developed economies as in previous years.

But the report, despite revisions to its methodology after upsetting China in past years, left emerging market giants far down the list, fast growth and success in drawing investment notwithstanding.

China ranked 90th out of 189 countries and territories, barely improved from 93 a year ago; Brazil is 120th, also up three places; and India was ranked at 142, two spots worse than before.

All three ranked lower than troubled economies and difficult investment environments like Russia and Greece.

But that only underscored the admittedly narrow focus of the survey, in terms of assessing a country’s success.

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