KARACHI: The bleak economic scenario, political instability and protest rallies have caused dropping of Pakistan’s rank among the comity of nations for doing business. Pakistan ranking has dropped from 127 to 128 in the world business ranking 2015. This was revealed in the World Bank’s (WB) report ‘Doing Business.’
Singapore was, as in recent past years, on top with a score of 88.27, and New Zealand close behind with 86.91. Hong Kong placed at No3, Denmark at No4, Korea at No 5, Norway at No 6, US at No 7, Britain at No 8, Finland at No 9 and Australia at No.10 in the fresh ranking of ‘Doing Business.’ India has been placed at No 42.
According to the report, there are several complexities in business in Pakistan. The businessmen have to take permission before starting business. Construction work, power connections and the complex method of registration of property, payment of taxes etc are such difficulties which create a lot of problems for the businessmen in Pakistan.
On the rank table Malaysia stands at No 18, UAE at No 22, Thailand at No 26, Japan at No 29, France at No 31, Spain at No 33, Saudi Arabia at No 49, Turkey at No 55, Italy at No 56, Kuwait at No 86, China at No 90, Philippines at No 95, Sri Lanka at No 99, Nepal at No 108, Egypt at No 112, Indonesia at No 114, Iraq at No 156, Bangladesh at No 173, Libya at No 188 and Eritrea at No 189.
