World Bank places Pakistan among struggling economies

News Image

By MG News | October 05, 2024 at 11:00 PM GMT+05:00

0:00

October 05, 2024 (MLN): The World Bank has placed Pakistan among economies grappling with a challenging business environment characterized by relatively weak regulatory frameworks and public services, which constrains the operational efficiency of their businesses.

In its latest report, Business Ready (B-READY)—a new data collection and analysis project of the World Bank Group to assess the business and investment climate worldwide—the World Bank placed Pakistan in the fourth quantile, which includes economies ranked between the 20th and 40th percentile in a study of 50 economies.

The report introduces a new analytical framework and assesses benchmark economies based on three pillars: Regulatory Framework, Public Services, and Operational Efficiency.

Pakistan, with a score of 59.10 in Regulatory Framework and a score of 44.97 in Public Services, was ranked in the fourth quintile, which is the second lowest.

Meanwhile, it was placed in the third quintile for Operational Efficiency with a score of 65.90.

The analysis centers on 10 topics essential for private sector development that correspond to various stages of the life cycle of a firm. 

Pakistan scored 91.50 on business entry, 54.25 on business location, 59.21 on utility services, 53.45 on labor, 67.97 on financial services, 45.71 on international trade, 57.48 on taxation, 41.99 on dispute resolution, 46.24 on market competition, and 48.79 on business insolvency.

Business Ready (B-READY) is a new World Bank Group corporate flagship report that evaluates the business and investment climate worldwide. It replaces and improves upon the Doing Business project.

B-READY provides a comprehensive data set and description of the factors that strengthen the private sector, not only by advancing the interests of individual firms but also by elevating the interests of workers, consumers, potential new enterprises, and the natural environment.

The 2024 report, which covers 50 economies, serves as the first in a series that will expand in geographical coverage and refine its methodology over time, supporting reform advocacy, policy guidance, and further analysis and research.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 131,949.07
198.95M
0.97%
1262.41
ALLSHR 82,069.26
730.83M
0.94%
764.01
KSE30 40,387.76
80.88M
1.11%
442.31
KMI30 191,376.82
77.76M
0.36%
678.77
KMIALLSHR 55,193.97
350.11M
0.22%
119.82
BKTi 35,828.25
28.42M
3.64%
1259.85
OGTi 28,446.34
6.84M
-1.02%
-293.01
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 108,125.00 110,525.00
107,865.00
-2290.00
-2.07%
BRENT CRUDE 68.51 68.89
67.75
-0.29
-0.42%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
0.75
0.78%
ROTTERDAM COAL MONTHLY 106.00 106.00
105.85
-2.20
-2.03%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.50 67.18
66.04
-0.50
-0.75%
SUGAR #11 WORLD 16.37 16.40
15.44
0.79
5.07%

Chart of the Day


Latest News
July 04, 2025 at 10:16 PM GMT+05:00

CAT upholds CCP’s ruling against PREMA Milk


July 04, 2025 at 10:07 PM GMT+05:00

Gold price in Pakistan falls Rs1,500 per tola


July 04, 2025 at 08:01 PM GMT+05:00

TRG in Supreme Court


July 04, 2025 at 06:41 PM GMT+05:00

Govt domestic debt, liabilities nears Rs54tr in May


July 04, 2025 at 06:26 PM GMT+05:00

Central govt debt rises to Rs76tr in May



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg