Cost of starting business: Global index puts Pakistan at 101st place
Cost of starting business: Global index puts Pakistan at 101st place

ISLAMABAD: Pakistan is being ranked 101 on the cost of starting a business index globally compared to India 97, Bangladesh 88, and Sri Lanka 89, revealed the Global Economy.com.

The global economy.com in its report, “Economy Indicators list” stated that the average for 2019 based on 186 countries was 19.78 percent of per capita GNI.

The highest value was in Venezuela i.e. 211.8 percent of per capita GNI and the lowest value was in Rwanda 0 percent of per capita GNI. Pakistan value was 6.70 percent, India 7.20 percent, Sri Lanka 8.70 percent, and Bangladesh 8.70 percent. The indicator is available from 2003 to 2019.

The indicator includes all official fees and fees for legal or professional services, if such services are required by law. The company law, the commercial code, and specific regulations and fee schedules are used as sources for calculating costs.

The indicator excludes bribes. The report ranked Pakistan at 141, India 84, Bangladesh 131, Sri Lanka 86, and Bhutan at 52 on the rule of law index.

The average for 2020 based on 48 countries was -0.16 points.

Pakistan and the global economy

The highest value was in Singapore: 1.88 points and the lowest value was in Syria: -2.07 points. The indicator is available from 1996 to 2020.

The index for Rule of Law captures perceptions of the extent to which agents have confidence in and abide by the rules of society, and in particular the quality of contract enforcement, property rights, the police, and the courts, as well as the likelihood of crime and violence.

According to the report, Pakistan is ranked at 109 on competitiveness index compared to India 67, Sri Lanka 83, and Bangladesh 104.

The average for 2019 based on 140 countries was 60.61 points.

The highest value was in Singapore: 84.8 points and the lowest value was in Chad: 35.1 points.

The indicator is available from 2018 to 2019.

The Global Competitiveness index is composed of 12 pillars of competitiveness: Institutions, infrastructure, ICT adoption, macroeconomic stability, health, skills, product market, labor market, financial system, market size, business, dynamism, and innovation capability.

Pakistan is ranked at 126 on Corruption Perceptions Index compared to India 87, Sri Lanka 98, and Bangladesh 144. The average for 2020 based on 177 countries was 44 points.

The highest value was in Denmark: 88 points and the lowest value was in Somalia: 12 points.

The indicator is available from 2001 to 2020.

The Corruption Perceptions Index is an indicator of perceptions of public sector corruption, ie, administrative and political corruption.

The indicator values are determined by using information from surveys and assessments of corruption, collected by a variety of reputable institutions.

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