Pakistan set to become one of top places for investment: PM

Prime Minister Imran Khan has expressed hope that Pakistan would become one of the top places for investment after the World Bank improved Pakistan's Ease of Doing Business Ranking by 28 points. The Premier said in his tweet, "Pakistan achieves biggest improvement in its history in WB ease of doing business rankings as over last decade Pakistan's ranking had slipped more than 50 places. Now we have improved 28 places - from 136 to 108."

He added, "Another of our manifesto commitments fulfilled - this time on ease of doing business but we still have a long way to go." He also congratulated all those in the government who have made this possible and stated that the government worked hard to make this happen. "Insha-Allah before the end of 2020, Pakistan will become one of the top places for investment," he added.

A report prepared by staff level team of the International Monetary Fund (IMF) for its Executive Board meeting on July 3, 2019 to consider Pakistan's request for US$ 6 billion Extended Fund Facility (EFF) had also pointed out that in addition to macroeconomic factors, there have been a number of structural impediments, including Pakistan's current ranking in the WB's ease of doing business index, that reflect hurdles in attracting private investment.

Copyright Business Recorder, 2019