Business

Pakistan ranked 138th among 189 world economies

LAHORE: As the government keeps on claiming Pakistan as ‘business-friendly’ country for foreign investors, the report of the World Bank indicate the otherwise.

Pakistan was ranked at 136th in 2015 which has gone down to 138th position in 2016 out of total 180 countries in the report titled ‘Ease of Doing Business Index’.

Reduction of rating by the World Bank has irked the federal government which keeps on claiming that they have improved Pakistan’s ranking in the world.  The federal government has sent a letter to all the provincial governments requiring them the reasons as why Pakistan is becoming more and more 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 which 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 133rdposition.   In the category of paying taxes Pakistan is ranked 171st position among 180 countries. Among getting electricity Pakistan is ranked at 157th position.

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