Better trade to improve Punjab's global ranking

LAHORE - A World Bank Exploratory Mission has said that removal of impediments in creating an enabling business environment in Punjab would help improve its global ranking in doing business.
This was stated by head of World Bank team, Mehnaz S Safavian while talking to LCCI President Mohammad Ali Mian on Friday. LCCI Vice President Shafqat saeed Piracha, former LCCI President and Vice President SAARC Chamber of commerce Iftikhar Ali Malik, former Senior Vice President Sohail Lashari and Manuel E Garcia of World Bank also spoke on the occasion.
The WB team leader said that if the government of the Punjab takes appropriate measures towards improving business environment, the Punjab's world ranking can improve from existing 82nd position to 52nd.
Mehnaz said that improvement in the business climate, increased opportunities and incentives for firm to invest productively, creation of jobs and an enabling regulatory environment are the main factors that result in improving living standards.
She said the doing business indicators are a very powerful tool that provides the policymakers, the international donor institution, investor community and macro-policy researchers with a set of indicators, annual data, and an in-depth analysis which enable them to benchmark an economy's regulatory environment for businesses. Speaking on the occasion, LCCI President Mohammad Ali Mian said that Pakistan has to go a long way in terms of improving its businesses environment. Doing business in Pakistan is becoming more and more expensive.  In particular, Pakistan has a lot to improve with regards to starting a business, getting credit and trading cross boarders. Pakistan also needs to do a lot of work in the areas of registration of property, employment of workers and above all in investor protection.