Good practices for doing business: Pakistan ahead of India and Bangladesh
ASMA RAZAQ
ISLAMABAD (September 11 2008)
Pakistan ranks 77 in good practices applied for doing business as compared to Bangladesh and India that rank 110 and 122 respectively, a World Bank report revealed. According to the report, there are 10 indicators for measuring the good practices applied for doing business.
These include starting the business, dealing with construction permits, employing workers, registering property, getting credit, protecting investors, paying taxes, trading across borders, enforcing contractors and closing a business.
The World Bank issued a report on 'Doing Business 2009'on Wednesday that focuses on easing the regulatory burden of doing business through reforms in most of the countries of the world.
The report shows that the introduction of reforms in business regulations makes it easier for a country to obtain credit by strengthening the legal rights of creditors and enhancing the availability of credit information. The main purpose of the report is to encourage the countries to bring about changes to improve their competitiveness globally.
The report shows that there are eleven procedures required to start a business in Pakistan in contrast with India where the number is 13, whereas it requires just seven procedures in Bangladesh to start a business. Similarly, it takes 24 days in Pakistan for starting any business while in Bangladesh 73 and in India it is 30.
According to report it requires twelve per cent of per capita income to start any business in Pakistan, while in India the trend goes up to 70 per cent and in Bangladesh it's 25 per cent. Pakistan stands 43rd on the table regarding the rigidity of employment while India is 30th and Bangladesh 35th, the report stated.
The report revealed that six procedures are required to register property both in Pakistan and India while in Bangladesh the number goes up to eight. The report indicates that the cost of doing business can be reduced to a great extent by easing regulatory burden through local reforms and getting inspiration from other economies.
According to the report, New Zealand can be considered as benchmark regarding the credit information, while Pakistan and India rank four in contrast to Bangladesh two. Pakistan ranks sixth in the table regarding the strength of investor protection, extent of disclosure and the extent of direct liability, the report reads.
The report shows that in Pakistan 47 payments are required for an entrepreneur to pay tax while the number goes up to 60 in India while the number in Bangladesh is 21. According to the report Pakistan requires $611 per container to export any commodity while the cost goes up to $944 per container in India whereas in Bangladesh the cost is $970. Pakistan requires $680 per container to import, while India requires $960 and Bangladesh $1375.
Copyright Business Recorder, 2008
Activity at Karachi and Qasim ports
KARACHI (September 11 2008):
The Karachi Port handled 122,558 tonnes of cargo including 80,464 tonnes of import, 42,094 tonnes of export cargo and 3,679 loaded and empty containers (TEUs) during last 24 hours ending at 0700 hours on Wednesday.
The freights comprised of 96,458 tonnes of dry cargo including 58,273 tonnes of general cargo; 2,618 tonnes of fertiliser; 7,768 tonnes of wheat; 17,100 tonnes of coal; 10,699 tonnes of cement and 26,100 tonnes of oil/liquid cargo. Six ships namely Sari, Sinar Bintan, Bengal Orchid, Lalazar, Ocean Coral and Far Singapore sailed out to sea during the reported period.
Nine vessels viz Cape Negro, Sea Veteran, Lake Maja, Lily Noble, Far Singapore, Reovoung Prince, Hansa Liberty, Apl Cairo and Fusion-1 are currently at the berths. Three ships namely Cape Negro, Apl Cairo and Lily Noble expected to sail on Wednesday while another three vessels viz Hansa Liberty, Ocala and Red Sea Spirit are expected to sail on Thursday.
Five ships namely New Selukaze, Global Progress, Apl Chicago, Sea Bridge and Ramish due to arrive on Wednesday while another eight ships namely Maersk Rouen, Chemstar Brave, Soon Fu, Ym Initiative, Ibn Sina, Blida, Jin Cheng and Arcadia are due to arrive on Thursday.
PORT QASIM
A total cargo volume of 81,072 tonnes including 61,131 tonnes of import 19,941 tonnes of export cargo and 1,702 containers (TEUs) was handled during last 24 hours on Wednesday. The cargoes comprised of 36,175 tonnes diesel oil; 2,539 tonnes LPG; 10,350 tonnes of palm oil; 1,331 tonnes of wheat; 4,745 tonnes of iron ore; 2,085 tonnes of cement; 2,781 tonnes rape seeds and 21,066 tonnes of containerised cargo.
Four vessels viz MV Shinyo Integrity, CV Maersk Damietta, MT St. Kitts and MT Al-Soor-II sailed out to sea during last 24 hours. A total of ten ships namely Acx Dahlia, Saudi Tabuk, Clipper Trinidad, Oak Galaxy, Karolina, Multi Trader, Nova Noor, Energy Falcon, Captain Markos and Nordiana-G carrying containers, crude oil, palm oil, iron ore and cement respectively are currently at the outer anchorage.
Eight vessels viz CV Maersk Damietta, MV Mustafa Bay, MV Melpomeni, MV Med Salvador, MT St. Kitts, MT St. Rilen, MT Al-Soor-II and MV Hellenic Horizon are currently occupying berths to load/offload containers, cement, wheat, rape seeds, chemicals, palm oil, diesel oil and iron Ore respectively during the report period. Two container ships namely Saudi Tabuk and ACX Dahlia are expected to take berths at Containers Terminal on Wednesday.
Five vessels viz MT Prem Pride, MT Vema Ocean, MT Eastern Tera, MV Xu Chang Hai and CV CMA CGM Kingston carrying crude oil, furnace oil, chemicals, rape seeds and containers due to arrive on Wednesday while another vessel viz MV Arcadia with rape seeds is due to arrive on Thursday. Four ships namely Force Ranger, Akmi, Toto and Pos Dignity carrying wheat and iron ore are also due to arrive.
Copyright Business Recorder, 2008