Pakistan improves regulations in construction sector, says IMF

The International Monetary Fund (IMF) has said that Pakistan in order to improve the accuracy of tax assessments introduced performance pay for tax collectors.

The latest report released by the IMF titled Economic Governance Reforms to Support Inclusive Growth highlighted measures taken by countries in the Middle East, North Africa, Afghanistan, Pakistan, Caucasus, and Central Asia.

The IMF report on streamlining business regulations states, Pakistan is among the countries that have reduced the time it takes to deal with construction permits and also to obtain a new electricity connection.

Pakistan is one of the countries in the Middle East, North Africa and Central Asia where time has been reduced for measures to develop the construction sector, limiting individual decisions through digitization and e-services initiatives. However, the quality of services can be further improved, and the offer of incentives can help improve performance.

On making regulations more transparent and enforceable, the report said that Pakistan was among the countries that have improved transparency by publishing electricity tariffs and increasing transparency of information on property registration.

The report was of the view that the business environment can be further improved by improving the accountability system, enhancing inter-institutional liaison and improving the civil services and professional and competitive environment.