ISLAMABAD: Pakistan has been included in World Bank’s ‘Top-20 improvers in Doing Business 2020’ list.
The WB on Friday issued a statement in this regard lauding the efforts by the concerned federal and provincial governments who made it possible
“With 6 reforms, #Pakistan emerges among top 20 reformers globally in Ease of Doing Business. Rankings will be released on Oct 24. We laud the COLLECTIVE action of Federal, #Sindh & #Punjab Govts for an impressive feat. @investinpak @eodbpunjab @EODBSindh,” World Bank Country Director for Pakistan, Patchamuthu Illangovan tweeted.
According to World Bank, “Pakistan improved in six areas measured by Doing Business—starting a business, dealing with construction permits, getting electricity, registering property, paying taxes and trading across borders—reflecting the country’s development of an ambitious reform strategy including the establishment of national secretariat and Prime Minister’s reform steering committee.”
Pakistan made starting a business easier by expanding procedures available through the online one-stop shop, it added.
“In addition to improvements in property registration, obtaining a construction permit became easier after the Sindh Building and Control Authority and the Lahore Development Authority streamlined approval workflows and improved the operational efficiency of their one-stop shops. The launching of online portals for new commercial connections made getting electricity easier, and tariff changes are announced in advance.”
Moreover, the statement added, tax compliance has become easier through online payment modules for value added tax and corporate income tax, and a lower corporate income tax rate.
The WB also appreciated ‘enhancing of the integration of various agencies into an electronic system’ and ‘improvement in coordination of joint physical inspections at the port’ which made trading across the borders easier.
Pakistan made trading across borders easier by enhancing the integration of various agencies into an electronic system and by improving coordination of joint physical inspections at the port.