The Lahore Chamber of Commerce & Industry (LCCI) President Almas Hyder has said that ease of doing business (EODB) is more important factor for businesses growth and a sustainable economy. "It is a good omen that present regime is well aware of the EODB's importance and trying to change the scenario in this regard through economic reforms", the LCCI President said while talking to a group of business leaders here Saturday.
He said that importance of businesses cannot be undermined for economic development as they provide jobs to the growing population and generate revenue for the government. Pakistan is at 136th place in the international index of ease of doing business while ranking of a number of those countries is better than us who have fewer resources. "Pakistan is at 130th position in starting a business, 166th in dealing with construction permits, 167th in getting electricity, 161st in registering property, 112th in getting credit, 26th in protecting minority investors, 173rd in paying taxes, 142nd in trading across borders, 156th enforcing contracts and at 53rd in resolving insolvency in the international indexes", he said adding that we have to take giant leaps towards improvement in these rankings of Pakistan. Almas Hyder suggested that a company office should be set up for incorporation of new companies in the country. For dealing with construction permits, he said that electronic one window operation at LDA should be established and automation of construction permits should be completed at LDA, including electronic submission of application.