Pakistan emerges among top 20 reformers globally in EODB: World Bank

September 27, 2019 (MLN): Pakistan has emerged as among top 20 reformers globally in Ease of Doing Business.

In a tweet today, World Bank Country head for Pakistan, Illango Patchamuthu has said, “With 6 reforms, Pakistan emerges among top 20 reformers globally in Ease of Doing Business”. Rankings will be released on October 24, he added.

In his tweet, he lauded the collective action of Federal, Sindh and Punjab governments for an impressive feat.

World Bank today has published list of top 20 improvers in doing business in 2020 in its website as per which,  Pakistan improved in six areas measured by Doing Business—starting a business, dealing with construction permits, getting electricity, registering property, paying taxes and trading across borders—reflecting the country’s development of an ambitious reform strategy including the establishment of national secretariat and Prime Minister’s reform steering committee.

Pakistan made starting a business easier by expanding procedures available through the online one-stop shop. In addition to improvements in property registration, obtaining a construction permit became easier after the Sindh Building and Control Authority and the Lahore Development Authority streamlined approval workflows and improved the operational efficiency of their one-stop shops.

The launching of online portals for new commercial connections made getting electricity easier, and tariff changes are announced in advance.

Moreover, tax compliance became easier through online payment modules for value added tax and corporate income tax, and a lower corporate income tax rate.

Pakistan made trading across borders easier by enhancing the integration of various agencies into an electronic system and by improving coordination of joint physical inspections at the port.

 Copyright Mesttis Link News

Posted on: 2019-09-27T13:22:00+05:00

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