Pakistan is all set to establish special commercial courts, in order to further improve its ease of doing business ranking. The aim is to resolve business conflicts in a timely manner.
Board of Investment (BoI) Secretary Omer Rasul made the announcement. Once special commercial courts will be established it will help in resolving business cases in a year’s time.
The reason for taking these steps is to improve the ranking of Pakistan. Recently, Pakistan was one of the biggest improvers in the World Bank’s ease of doing business index 2020. Pakistan moved up 28 places on the index from 136th spot to 108th place.
According to the adviser to Prime Minister on Commerce, Investment, Industries, and Textile, Abdul Razak Dawood, Pakistan will improve its ranking further in ease of doing business.
Dawood said, “It is pressure from the top and efforts from the bottom and a lot of good coordination helped the country to improve the ranking.”
World Bank Country Director for Pakistan Illango Patchamuthu said, “This rise is significant and made possible by collective and coordinated actions of Federal Government and Provincial Governments of Sindh and Punjab over the past year. The accelerated reform agenda has many noteworthy features to improve the quality of regulations, reduce time and streamline processes. This momentum needs to be sustained in the coming years for Pakistan to continue to make progress.”