WB team reviews Punjab govt reforms

LAHORE : A two-member World Bank team reviewed the progress on the Punjab government's reforms about the doing business agenda.

Doing Business Data Collection Team of World Bank (WB) comprising Herve Kaddoura, private sector specialist and Albert Nogues, operations analyst from Washington, arrived in the provincial metropolis on a four-day visit with the agenda to collect data regarding various reforms completed by the provincial government under the doing business reforms agenda.

The team met the chairman and secretary of the Punjab Planning and Development, and other agencies involved in implementation of the reform agenda.

The team was given briefing by the departments on the reforms completed and on the dissemination efforts of the Punjab government to reach out to the private sector.

The provincial focal person on the subject and Planning and Development Department secretary, Iftikhar Ali Sahoo, gave overview of the reforms successfully implemented and acknowledged the efforts of all the implementing agencies. He emphasised that substantial outcome had been achieved, however, still there was a long way to go.

The WB team appreciated the efforts of the Punjab for the implementation of the reform agenda.

The team also held extensive meetings with the private sector belonging to various fields of life to validate the reforms completed by the government.

The Punjab government has taken several steps to implement meaningful reforms to facilitate the businesses. The government aims to create an enabling business environment in the province through the agenda.

The ease of doing business reform agenda at the provincial level is being executed by Planning and Development Department in collaboration with multiple implementing departments.

Under the ambitious reform agenda, the Punjab government has implemented around 15 different reforms in the areas of construction permits, property registration, contract enforcement and business registration during the last six months.

Every year, the World Bank Data Verification and Collection team visits a few selected countries to verify the reforms implemented. This year, due to the concerted efforts of the Punjab government, the WB team is visiting Punjab to validate the reform efforts.

World Bank’s flagship doing business report measures the aspects of business regulations and their implications for firm establishment and operations across 190 economies.

It provides quantitative indicators on regulations for starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency.