ISLAMABAD: The Board of Investment (BoI) will launch the 7th Reform Action Plan that will further improve Pakistan’s doing business ranking.
To further build on the pace and progress of Pakistan’s reform journey, the Board of Investment in collaboration with the World Bank Group is launching the 7th Reform Action Plan on Wednesday, August 25, 2021.
Over 80 reforms have been identified across 10 Ease of Doing Business (EoDB) indicators for the implementation at the federal and provincial levels. The 7th Action Plan specifically focuses on automation, introduction of smart regulations and creation of a digital ecosystem that will promote transparency and efficiency.
Every year, the Board of Investment, in collaboration with more than 30 federal and provincial agencies and the World Bank Group, prepares a reform plan, containing various reform actions across 10 business indicators of the Doing Business Report.
So far, six reform plans have been implemented and it is expected that the 7th reform plan will further improve Pakistan’s ranking in the Doing Business Report 2023.
Since 2018, Pakistan has progressed from 147th position to 108th in the global ranking. Pakistan’s stellar performance in the last two years, with a jump of 39 positions put the country among the top 10 reformers in the world.
It is projected that Pakistan will jump several positions in the Doing Business Reports 2021 and 2022, likely to be published in December 2021.
The Board of Investment is confident that this sustained reform momentum would increase Pakistan’s attractiveness as a preferred investment destination at the global level.
