Pakistan ranked high in South Asia in Doing Business 2008 Report



WASHINGTON: Pakistan has been ranked a leading South Asian country in regard with ease of doing business as it continued reforms in various sectors and stayed ahead of major regional economies in a worldwide listing issued by global financial institutions. Pakistan is ranked second after the Maldives in South Asia in the rankings issued by the World Bank and International Finance Institution, in which a high ranking on the ease of doing business index means the regulatory environment is conducive to the operation of business.



Overall, the country is placed 76 in the list of 178 countries, according to Doing Business 2008 report. India, the other major economy of the region, is rated 8th in the region and at 120th in the global listing. China is 83rd on the list.



The rankings are based on 10 indicators of business regulation that track the time and cost to meet government requirements in business start-up, operation, trade, taxation, and closure.



Last financial year, Pakistan attracted a record over eight billion dollars investment into various sectors, signifying growing investor confidence in the country and a recent report in the Wall Street Journal observed that notwithstanding political developments in the election year, the country’s economy continues to perform well.



According to the rankings, the top 10 reformers this year are, in order, Egypt, Croatia, Ghana, FYR Macedonia, Georgia, Colombia, Saudi Arabia, Kenya, China, and Bulgaria.



Singapore remains the easiest place to do business in the world. The top 25, in order, are Singapore, New Zealand, the United States, Hong Kong (China), Denmark, the United Kingdom, Canada, Ireland, Australia, Iceland, Norway, Japan, Finland, Sweden, Thailand, Switzerland, Estonia, Georgia, Belgium, Germany, the Netherlands, Latvia, Saudi Arabia, Malaysia, and Austria.





APP - Sept 26, 2007


http://www.pakmission-uk.gov.pk/News/NewsItem215.asp