ISLAMABAD, (APP):The Board of Investment (BOI) has decided to launch reforms for further improve Pakistan’s Ease of Doing Business (EODB) ranking to provide conducive business environment for foreign investment in the country.
The BOI to launch ‘7th Reform Action Plan’ that will further improve Pakistan’s Doing Business Ranking (EODB) to further build on the pace and progress of Pakistan’s reform journey, said a press release issued by BOI here on Monday.
The Board of Investment (BOI) in collaboration with World Bank Group (WBG) would be launching 7th Reform Action Plan on August, 25th 2021.
According to press release issued here, 0ver 80 reforms have been identified as Ease of Doing Business (EoDB)’s ten indicators for implementation at Federal and Provincial levels.
The 7th Action Plan specifically focused on automation, introduction of smart regulations and creation of a digital eco system that will promote transparency and efficiency.
Every year, BOI in collaboration with more than 30 federal and provincial agencies and World Bank Group prepared reform plan containing various reform actions across ten business indicators of Doing Business Report.
So far, six reform plans have been implemented and it was expected that the 7th reform plan will further improve Pakistan’s ranking in Doing Business Report 2023.
Since 2018, Pakistan has progressed from 147th position to 108th in global ranking.
Pakistan’s stellar performance in the last two years, with a jump of 39 positions put Pakistan among top ten reformers in the world.
It is projected that Pakistan will jump several positions in the Doing Business Reports 2021 and 2022, likely to be published in December 2021.
Board of Investment was confident that sustained reform momentum would increase Pakistan’s attractiveness as a preferred investment destination at global level.
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