Ease of Doing Business

A conducive investment climate is instrumental in attracting both domestic and foreign investment by providing a more facilitative institutional, policy and regulatory environment for businesses to operate. World Bank’s Report on Doing Business (DB) ranks economies across the world annually on the basis of 10 comprehensive areas in the life cycle of a business. In DB report 2019 Pakistan improved 11 ranks. Since the launch of DB report in 2002, it is the first time that Pakistan has jumped 11 points in one year with three approved and many positive data corrections. This report measures the performance in ease of doing business in 190 countries. The three reforms that have been approved are as under:

  • Pakistan made “Starting a Business” easier by introducing the online one-stop registration system, replacing several forms for incorporation with a single application and establishing information exchange between the SECP and FBR the tax authority. This change applies to both Karachi and Lahore. Registering Property in Lahore has been made easier by streamlining and automating administrative procedures and by increasing the transparency of its land administration system. In Karachi, “Registering Property” has been made easier by increasing the transparency of the land registry. “Resolving Insolvency” has been made easier by introducing the reorganization procedure and improving the continuation of the debtors’ business during insolvency proceedings. This change applies to both Karachi and Lahore.
  • This change applies to both Karachi and Lahore. Registering Property in Lahore has been made easier by streamlining and automating administrative procedures and by increasing the transparency of its land administration system. In Karachi, “Registering Property” has been made easier by increasing the transparency of the land registry. “Resolving Insolvency” has been made easier by introducing the reorganization procedure and improving the continuation of the debtors’ business during insolvency proceedings. This change applies to both Karachi and Lahore.
  • This change applies to both Karachi and Lahore. Registering Property in Lahore has been made easier by streamlining and automating administrative procedures and by increasing the transparency of its land administration system. In Karachi, “Registering Property” has been made easier by increasing the transparency of the land registry. “Resolving Insolvency” has been made easier by introducing the reorganization procedure and improving the continuation of the debtors’ business during insolvency proceedings. This change applies to both Karachi and Lahore.

Other positive data corrections also contributed to the unprecedented improvement in the ranking of Pakistan. This has been made possible with the efforts of the dedicated teams of Securities and Exchange Commission of Pakistan (SECP), Federal Board of Revenue (FBR), State Bank of Pakistan, Planning and Development Department Punjab, and Sindh Board of Investment (SBI). World Bank’s assistance is critical to the reform process and the achievements. The improvement is a result of combined efforts under the Prime Minister’s Steering Committee on Doing Business Reforms.

  • Starting a Business Made Easier
  • Registering PropertyMade Easier
  • Resolving Insolvency Made Easier
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Doing Business Rank by Years
  • 148
    2016
  • 144
    2017
  • 147
    2018
  • 136
    2019

The Prime Minister Imran Khan in his first speech to the Nation mentioned his commitment to improve business climate. The “Doing Business Reform Strategy 2018-21” is the national roadmap for improving Pakistan’s Investment Climate. The Strategy is designed to create an enabling environment for attracting higher investment (both foreign as well as domestic) to help boost the country’s growth prospects. In order to achieve this objective, the Strategy encompasses a set of comprehensive reform actions not only at the federal government level but also includes provinces in the reform initiatives falling within their domains. The reforms focus on regulatory changes, improving technology and simplification of procedures.

For further information please visit: www.pakistandoingbusiness.com