The World Bank Group’s Doing Business project provides a measure of the “Ease of Doing Business” through a set of objective indicators that focus on the impacts of laws, regulations and their enforcement across 190 economies. Pakistan has consistently making efforts to improve business environment in the country. Since 2016, almost 300 reforms have been implemented to improve investment climate in the country .Resultantly, Pakistan improved 39 positions in EODB ranking in the last two years and was placed at 108 th position. Pakistan was recognized as the top reformer in South Asia and sixth reformer in the world Saudi Arabia, Jordan, Togo, Bahrain, Tajikistan, Kuwait, China, India, and Nigeria.
DB20 recognized the following six major reforms in Pakistan:
- Company can now be registered in one day with SECP& FBR. Data is transferred to Labour Dept, PESSI, SESSI and EOBI in real time. Only SECP portal is used. End to End integration of 9 departments has been made.
- Getting construction permits now takes 108 days in Lahore and 134 days in Karachi as opposed to 266 and 261 days originally.
- Commercial property can now be registered in 22 days in Lahore and 149 days in Karachi instead of 25 and 208 days previously.
- Commercial electricity connection can now be obtained in 73 days in Lahore and 134 days in Karachi as opposed to 117 and 185 days in previous report. Online portals of LESCO and K-Electric have been launched. Tariff changes are announced in advance.
- Online payment of Taxes has been introduced. The numbers of payments are now measured at 34 from 47 and time for paying taxes has reduced substantially. Tax rates for small companies reduced from 25% to 2 4%
- WEBOC Customs software has reduced time to export for border compliance from 75 hrs to 58 hrs and time for Imports for documentary compliance from143 hrs 96hrs
Ease of Doing Business Report 2021: This report is expected to be launched in October 2020. However, for DB report 2021, more than reform actions and 30 data challenges have been submitted to the World Bank and it is expected that Pakistan will register further improvement this year.