Pakistan has strengthened its position in World Bank’s Ease of Doing Business (EODB) index consecutively for the second year in a row. It appears to be the prominent improver in 2020 with the highest improvement observed in “starting a business” indicator with 58 points, pushed Pakistan in this sector from 130 to 72 position and placed it at the second highest position in South Asian countries.
En masse six reform areas have been acknowledged in the 2020 report as Pakistan has managed to improve its position in the Index by 28 points from 136 to 108. The areas are Starting a business, dealing with construction permits, getting electricity, registering property, paying taxes and trading across borders.
Pakistan has created the construction permit process quite easier and faster by streamlining the approval process and also made construction safer by ensuring that building quality inspections take place regularly. Moreover, the introduction of online payment modules and reduction of corporate income tax made the tax submission process quite convenient.
The integration of various agencies in the Web-Based One Customs (WEBOC) electronic system and coordinating joint physical inspections at the port eases the trading across the borders. The transparency of electricity tariff charges and launching of an online portal enabled the provision of electricity trouble-free.