Pakistan has done amazing job in business last year and got position in top 20 reformers in World Bank (WB) and there is no difficulty for Pakistan to do business in future years.
Pakistan is between those countries who are making progress on daily basis and going only forward.This is great accomplishment of Pakistan.
The World bank has shared the statement on [ Friday,september,27] about those countries who made is possible. And full ranking will be released on 24th October.
We laud the COLLECTIVE action of Federal, #Sindh & #Punjab Govts for an impressive feat. @investinpak @eodbpunjab @EODBSindh,” World Bank Country Director for Pakistan, Patchamuthu Illangovan tweeted.
According to World Bank, “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 a starting business easier by expanding policy available through the online one stop-shop, it added.
“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.”
Tax compliance has become simpler through online process of remittance modules for value added tax and collaborative come tax, and lower corporate income tax rate.
The World bank also admired ‘raising of the integration of different agencies into an electronic system’ and ‘improvement in collaboration of combine physical inspections at the port’ which made trading across the borders very easier and comfortable.