The World Bank’s Global Doing Business Rankings depict a true picture of the country’s economy. The report covered 190 countries out of which Pakistan was ranked at 147, this was 3 positions lower from last year’s position of 144.
The Experts have termed the findings of the report on Pakistan as a set back to what the government has been portraying about the country’s otherwise ‘business-friendly’ impression.
How are Economies Ranked?
Economies are ranked on their ease of doing business, from 1 – 190. This means the regulatory environment is friendlier, for starting and operating a local firm in the country. The rankings are determined by sorting the aggregate distance to frontier scores on 11 topics which consist of several indicators, giving equal weight to each topic.
The indicators include:
1. Starting a business
2. Dealing with construction permits
3. Getting electricity
4. Registering property
5. Access to finance
6. Protecting minority investors
7. Paying taxes
8. Trading across borders
9. Enforcing contracts
10. Resolving insolvency
11. Labour market regulations.
The following graph shows the ten most improved economies over the year:
NewZealand has been selected as the country that has the most ease of doing business in 2018 out of 190 countries. Followed by Singapore and Denmark.
The top 5 economies on Ease of Doing Business in 2018
- New Zealand
- Singapore
- Denmark
- South Korea
- Hong Kong
The bottom 5 Economies As per World Bank’s Report
186. Yemen
187. South Sudan
188. Venezuela
189. Eritrea
190. Somalia
A snapshot of the economies listed under the Ease of Doing Business in 2018
Professor Dr. Athar Ahmed, Senior economist, termed the WB report a “matter of shame”. He further added,
“The report depicts the true picture of the economy. Pakistan should have been among the top 47 economies but unfortunately, it is the matter of shame for us. It would definitely dent the government of PML N”
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