Doing business in Pakistan is still not easy. A World Bank report “Doing Business 2018,” places Pakistan at 147 out of 190 countries.
It was stated in the report that Pakistan executed four business modifications in 2017. This resulted in making it easier to register a new business, transfer commercial property and facilitate cross border trade.
The four changes that were made, the most important one dealt with initiation of business. The change replaced the need to obtain a digital signature for company incorporation with a less costly personal identification number. The change is applicable in both Lahore and Karachi.
Furthermore, land registration was made easier in Karachi. The process has been published online with the list of important documents and fee scheduling.
Moreover, Pakistan augmented minority investor protections by making it easier to sue directors in case of prejudicial transactions with interested parties. This modification is applicable to both Lahore and Karachi.
The last modification made by Pakistan this year, made import and export easier. A new container terminal was developed and enhanced its customs platform for electronic document submission. These changes apply to both Karachi and Lahore.
According to the regional profile of South Asia, doing business indicators show that Pakistan ranked 172nd in paying taxes; in trading across borders, the ranking was 171st; enforcing contracts, ranking 156th; resolving insolvency ranked 82nd; protecting minority investors ranked 20th; getting credit ranked 105th; registering property ranked 170th; getting electricity ranking 167th; dealing with construction permits ranking 141st; starting business ranking 142nd; and business environment ranking 147th.
There is no South Asian country in the top 50 ranking for ease of doing business. It is expected that doing business in Pakistan would become better in coming years, especially after completion of China-Pakistan Economic Corridor (CPEC).
