In September
2009, the World Bank recognized Pakistan the 85th most business
friendly country in the world in its annual 'Ease of Doing Business'
report. Recent reforms improved our position and helped sustain
our position as the most
business friendly location in our region.
The Ease
of Doing Business Index is an index created by the World Bank.
Higher rankings indicate better, usually simpler, regulations
for businesses and stronger protections of property rights.
The
index is based on the study of laws and regulations, with the
input and verification by more than 5,000 government officials,
lawyers, business consultants, accountants and other professionals
who routinely advise on or administer legal and regulatory requirements.
The
Ease of Doing Business index is meant to measure regulations directly
affecting businesses. A nation's ranking on the index is based
on the average of 10 subindices:
1.
Starting a business - Procedures, time, cost and minimum capital
to open a new business
2.
Dealing with licenses - Procedures, time and cost of business
inspections and licensing (construction industry)
3.
Hiring and firing workers - Difficulty of hiring index, rigidity
of hours of index, difficulty of firing index, hiring cost and
firing cost
4.
Registering property - Procedures, time and cost to register commercial
real estate
5.
Getting credit - Strength of legal rights index, depth of credit
information index
6.
Protecting investors - Indices on the extent of disclosure, extent
of director liability and ease of shareholder suits
7.
Paying taxes - Number of taxes paid, hours per year spent preparing
tax returns and total tax payable as share of gross profit
8.
Trading across borders - Number of documents, number of signatures
and time necessary to export and import
9.
Enforcing contracts - Procedures, time and cost to enforce a debt
contract
10.
Closing a business - Time and cost to close down a business, and
recovery rate
The
World Bank Ease of Doing Business Report on Pakistan is downloadable
here.
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