World Bank Doing Business Report
The Doing Business Report is a publication of the World Bank Group that benchmarks business regulation in 190 countries worldwide. A high ease of doing business ranking means that the regulatory environment in such country is more conducive to the starting and operating a local business. Ease of Doing Business Index comprises of ten Indicators on the basis of which ranking is issued;
- Starting a Business
- Getting credit
- Construction permit
- Getting electricity
- Registering property
- Protecting minority investors
- Resolving insolvency
- Enforcing contracts
- Trading across borders
- Paying taxes
Doing Business Report 2020
VOSS i.e. integration of SECP eServices with the Federal Board of Revenue (FBR) and the Employees Old Age Benefits Institution (EOBI) at the Federal level and with Business Registration portals of Punjab and Sindh at the Provincial level has been acknowledged in 2020 report. Integration with FBR was completed last year but was not fully acknowledged on the basis of private sector feedback.
As acknowledged in 2020 report, now an entrepreneur can get registration with 6 agencies i.e. SECP, FBR and registration with EOBI, PESSI/SESSI and labor department and Excise and Taxation Department of Punjab and Sindh by submitting a single online application through VOSS i.e. SECP eServices. As a result of this reform, number of procedures to start a business as recorded in the Doing Business Report 2020 have been reduced from 10 to 5.
Data of Registrations with FBR, EOBI and provincial authorities through VOSS (SECP eServices) is available at data of registrations through Virtual One Stop Shop
Complete report can be accessed @ http://www.doingbusiness.org/content/dam/doingBusiness/country/p/pakistan/PAK.pdf
Doing Business Report 2020
In 2019 Doing Business report Pakistan’s ranking improved by 11 notches (from 147 to 136). Reforms were acknowledged in following areas relating to SECP;
- Starting a Business; and
- Resolving Insolvency.
The relevant extract of WBG Report are quoted below:
Starting a Business: Pakistan made starting a business easier by enhancing the online one-stop registration system, replacing several forms for incorporation with a single application and establishing information exchange between the registry and the tax authority.Resolving Insolvency: Pakistan made resolving insolvency easier by introducing the reorganization procedure and improving the continuation of the debtor’s business during insolvency proceedings.