Fundamental reform only way forward, says Asad Umar as Pakistan improves Ease of Doing Business

• World Bank has placed Pakistan at 108th position in its latest Ease of Doing Business Index 2020 report.
• Umar says Pakistan's rankings earlier worsened by more than 50 places in the last 10 years.

Pakistan's former finance minister Asad Umar has said that fundamental reform is the only way to take the country forward economically, after Pakistan showed massive improvement in the World Bank's Ease of Doing Business Index 2020.

The Pakistan Tehreek-e-Insaaf MNA, who currently serves as the Chairman Standing Committee of the National Assembly on Finance, Revenue and Economic Affairs and as the member of Economic Advisory Council, congratulated Pakistan for achieving massive improvements in economic indicators. He said that Pakistan rankings had worsened by more than 50 places in the last 10 years, a trend that was thankfully reversed in 2019.

“Pakistan achieves biggest improvement in our history in World Bank's Ease of Doing Business rankings. We improved 28 places from 136th to 108th. In the last 10 years Pakistan ranking had worsened by more than 50 places! Fundamental reform is the only way we will have sustainable progress,” Umar said in a tweet.

Pak achieves biggest improvement in our history in world bank's ease of doing business rankings. We improved 28 places from 136th to 108th. In the last 10 years pak ranking had worsened by more than 50 places! Fundamental reform is the only way we will have sustainable progress

— Asad Umar (@Asad_Umar) 24 October 2019

On Thursday, The World Bank has placed Pakistan at 108th position in its latest Ease of Doing Business Index 2020 report. The country was among the biggest improvers, jumping up 28 places on the index.

Pakistan also showed the most notable improvement in Doing Business 2020, sitting alongside Saudi Arabia, Jordan, Togo, Bahrain, Tajikistan, Kuwait, China, India, and Nigeria.

“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,” said Illango Patchamuthu, World Bank Country Director for Pakistan.