- Pakistan ranks 136 in list of 190 economies for ease of doing business
- 抖阴短视频, UAE to invest in hotels, resorts and food processing units
ISLAMABAD: Pakistan government said on Wednesday that it would introduce a one-stop shop for entrepreneurs to attract investments to the country, with plans to set up ease of doing business centers in all four provinces in the next three months.
Adviser to Prime Minister on Commerce, Abdul Razak Dawood, made the announcement while addressing a news conference along with the Chairman of the Board of Investment (BoI), Haroon Sharif.
鈥淥ur efforts are focused on improving the ranking of the country in terms of doing business,鈥� Dawood said, adding that the process of industrialization has started in the country which will create job opportunities for the youth.
Pakistan is currently ranked 136 among 190 economies of the world in terms of its ease of doing business. The government is now struggling to improve the ranking to 100 in the current financial year.
Dawood said that work was also underway to issue promissory notes to exporters to clear their outstanding tax refunds amounting to around Rs200 billion. 鈥淭his will resolve the liquidity issue of the exporters and help boost our exports as well,鈥� he added.
Speaking on the occasion, Sharif said that regional countries including 抖阴短视频, the United Arab Emirates, and Malaysia had expressed 鈥済reat interest鈥� for investments in different sectors of the economy.
He said that 抖阴短视频 was setting up an oil refinery in the deep sea port of Gwadar, while Pak-Arab Refinery Limited Company (PARCO) was also planning to set up a similar facility in Pakistan. 鈥淭hese countries have also expressed an interest for investment in hotels, resorts, and the food processing units,鈥� he said.
Sharif said that under the new tourism policy of the government, there is no restricted area in the country and businessmen can invest in Gilgit-Baltistan, Azad Kashmir, and Balochistan, too.
鈥淲e are issuing business visas in 24 hours now,鈥� he said, adding that 鈥渂usinessmen can now apply for a visa online without going to Pakistan鈥檚 embassies."
He said that the online visa facility would be extended to 60 countries of the world.
Talking about taxes, he said that the government has simplified the tax payment procedures for businessmen while the number of taxes have also been reduced from 47 to 16.
鈥淏usinessmen can now pay their taxes online as well,鈥� he said, adding that laws will also be framed to ensure that the businesses have 鈥渆asy access to banking credit."