BOI to improve Pakistan's EODB ranking below 100

ISLAMABAD: Federal Secretary, Board of Investment (BOI), Fareena Mazhar on Thursday said the World Bank's coming, Ease of Doing Business (EODB) report 2021-22 to be issued in December this year, which is expected to further improve Pakistan's ranking below 100.

"Improving Pakistan's 'Ease of Doing Business Ranking' will boost foreign investment in the country" she said.

The Board of Investment (BOI) is working hard to attract foreign investment in the country and improve the 'Ease of Doing Business' by cost of doing business in the country, Federal Secretary, BOI Fareena Mazhar told APP besides the launching ceremony of 7th Reform Action Plan organized by BOI here.

In this regard, the BOI is working on about 50 reforms to create a conducive environment for business and enhance the industrialization in the country.

In the last two years, "we have improved the World Bank's EODB ranking by 39 points in ease of doing business, which is very beneficial for attracting foreign investment and growth of local industrial sector.

The Secretary BOI said that the Board is working hard on business reforms which will increase industrial competitiveness in the country and improve the climate for foreign investment in the country.

She informed the '7th Reform Action Plan' is mainly focusing on improvements in firm entry regulations, reliability of electricity, tax regulations, trade regulations, creditors' rights, better property rights, and court efficiency etc and reforms in these areas play a major role in the process of economic development

Fareena Mazhar said that enabling a business environment plays a pivotal role in attracting domestic and foreign investment.

She said that all over the world, the emphasis is on improving the business climate.