Pakistan’s ease of business reforms to create jobs, more investment: WB President

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Islamabad -World Bank Group President David Malpass Thursday said the reforms carried out by Pakistan for ease of doing business would help create jobs, attract investment and generate more tax revenue.

Addressing “Doing Business Reforms Exhibition” held here by the Board of Investment to celebrate Pakistan’s 28-point jump in the World Bank’s report on ease of doing business, he said he was pleased to be in Pakistan and join those who  championed and did so much work for the ease of doing business.

 “Thank you prime minister. Thank you everyone,” the World Bank President said while clapping. Also addressed by Prime Minister Imran Khan as chief guest, the ceremony was also attended by Sindh Chief Minister Syed Murad Ali Shah, federal ministers, BoI Chairman Zubair Gilani and acting British High Commissioner Richard Crowder.

The World Bank president said in this year’s World Bank report on ease of doing business, Pakistan stood among top ten reformers, which would add to growth and jobs in the coming years.He said according to the report, Pakistan carried out the most reforms in the South Asia region.

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“Your country jumps to 108th place from 136th last year. Your reforms made it easier for the entrepreneurs to start business, get electricity and construction permits, register property, pay taxes and trade across border,” he remarked.

“I congratulate you all, prime minister, chief minister, your team for this achievement. Ownership of reforms at a higher level makes big difference,”He said the reforms made by Pakistan would create better jobs, higher income, attract more investment and generate more tax revenue.

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While encouraging more reforms, he called for more measures to protect women welfare and include them in national economy, strengthen the energy and education sectors and simplify the taxation.David Malpass said a broad-based economy was a must to address the calls of women and youth for better living opportunities.

David Malpass said Pakistan could bring further ease of doing business by improving its judicial procedures, skill training and women empowerment, and also assured the World Bank’s support.He said one in every four women was part of the Pakistan’s workforce and less than seven percent women were on managerial positions.

He called for more digitization of procedures and underscored the importance of the transparency in the reforms process to win the investors’ confidence.

He said the World Bank would work hard to make Pakistan succeed as the country had also the potential to make further reforms and cope with the challenges.Acting British High Commissioner Richard Crowder expressed grief over the train tragedy on behalf of the people and government of the United Kingdom as well as the diplomatic community in Pakistan.

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He said the UKAID would support the initiatives for bringing the ease of doing business in Pakistan. Pak-UK partnership was in the benefit of both the countries, which, he hoped, would strengthen in the years to come.The recent visit of the royal couple and their engagements in various parts of the country would help further improve the bilateral relations.