Economists hail govt’s steps towards ensuring Ease of Doing Business

January 31, 2019: Analysts on Thursday hailed incumbent government's steps to improve Pakistan’s ranking in ease of doing business this year.

Economist Dr. Fazal-ur-Rehman talking in a Radio current Affairs' programme said, the government is taking certain measures for economic stability in the country and the reforms in taxation system are mandatory.

He said the foreign investors are hesitant to invest in Pakistan because of complicated tax system.

Moreover he demanded that there should be a consistency in economic policies in the country and it should not be changed with the change of government.

The ease of doing business index is mostly used as a guide by foreign investors to learn more about a country, he added.

Economist Mirza Ikhtiar Baig suggested the government to impose regulatory duties on luxury items in order to discourage imports, adding, the industrialists must adopt modern technology in order to be competitive in their products in the world.

Economist Dr. Noor Fatima said that the government seems committed to provide security and confidence to ensure foreign investment in Pakistan.

It is good development that foreign investors are taking keen interest to invest in development projects in Pakistan under CPEC, she mentioned.

She said investing in Pakistan is a golden opportunity for the investors as law and order situation in the country has improved. She further said business visa will now be provided to the citizens of ninety six countries and more importantly the business visa will be issued within eight to ten days.

Economist Dr. Ishtiaq Baig also said that now Pakistan can further provide both unskilled and highly professional manpower in various fields including medicine, engineering, information technology and other fields.

Chairman, Pakistan Economic Forum Humayun Iqbal Shami said that the PTI government is taking steps in the right direction, since Ease of Doing Business rate in Pakistan is low.    

The Ease of Doing Business can be ensured by introducing an online one-stop registration system, replacing several stages for it, he highlighted.

 It is a positive development that the government is committed to ensure ease of doing business for investors and also competitiveness for multinational companies, he concluded.

(APP)