ISLAMABAD: Pakistan’s economic position has further improved from 148th to 144th out of 190 countries.
Pakistan’s improved performance in the World Bank Group’s Doing Business Report 2017 indicates that the country is now more business friendly for small and medium sized enterprises.
In the latest report, Pakistan has been recognised as one of the top ten economies globally making the biggest improvements in their business regulations and not only this, Pakistan is the only South Asian economy to make it to the list this year.
The country has jumped four ranks from its position last year from 148 to 144 out of 190 countries under the revised methodology introduced this year.
To assess the country’s current year’s performance against its own last year, it is important to look at Distance to Frontier Score in the Doing Business methodology, according to the press statement issued by Ministry of Finance. Pakistan has improved on this metric as well where Pakistan’s score went up from 49.
48 in Doing Business 2016 to 51.77 in Doing Business 2017, using a comparable methodology as a result of reforms in all the areas covered by Doing Business.
Pakistan was the sole economy in South Asia to reform property transfers. Under the Land Records Management and Information System, a programme has been developed and deployed to strengthen the capacity of land administration institutions in Lahore.
