FPCCI hopes improved ease of doing business to encourage foreign investment

FPCCI hopes improved ease of doing business to encourage foreign investment

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) hoped that improvement in ease of doing business in Pakistan will encourage foreign investment into the country.

Engr. Daroo Khan Achakzai, President FPCCI in a statement issued on Friday congratulated Prime Minister of Pakistan Imran Khan and his team for improvement of Pakistan’s ranking from 136 to 108 in Ease of Doing Business 2020 report issued by World Bank.

The report indicated that the World Bank and others institutions has started recognition of Pakistan’s Business reforms.

He added that the improving of Pakistan in Ease of Doing Business will definitely pave the way in encouraging the international investors to make substantial investment in Pakistan as most of the international investors make decisions of investment on the basis of this report.

The President FPCCI said that the Present Government has achieved another milestone of their manifesto i.e. to bring Pakistan into top investment destinations.

He hoped that the continuous reforms of the Government will bring Pakistan into top 80 countries next year. He added that Pakistan’s ranking had improved in six indicators i.e. starting a business, dealing with construction permits, getting electricity, registering property, paying taxes and trading across borders which made Pakistan in top ten business reformer countries.

This will also facilitate the other countries to investment in CPEC related projects which will connect South Asia with Central Asia and Europe.

He suggested the government to make similar incentives/reforms in Baluchistan and KPK as the World Bank report has only covered two main provinces Punjab and Sindh.

Inclusion of these provinces will help in their economic development.

He further added that improvement in ranking will improve the business environment and overall economy become visible because of the reforms introduced by the government which will focus on the mandate of ensuring well being of masses and providing quality education and health to all segment of society.