The United States is placed 8th and China ranked at 46th.
Three reforms have been acknowledged; Pakistan made starting a business easier by introducing the online one-stop registration system; replaced several forms for incorporation with a single application and; established information exchange mechanism between the Securities and Exchange Commission of Pakistan (SECP) and Federal Board of Revenue (FBR). Numerous reforms focused on improving starting a business, access to credit, paying taxes and resolving insolvency.
"These efforts have had transformative and positive effects on the judicial system as a whole, but also in the areas of commercial litigation and insolvency specifically", the report said.
Jitendra Gianchandani, chairman and managing partner of Jitendra Consulting Group, said the UAE's improvement in the ranking from 21st place to 11th is phenomenal.
Prime Minister Narendra Modi has expressed his happiness on the rise of India's "Ease of Doing Business" rank. "The reform applies to both Karachi and Lahore, the two cities measured by the Doing Business report".
Pakistan post 150-5 in final Twenty20 against Australia
Sarfraz was full of praise for his team and Shaheen. "The boys have worked hard in all facets, the result is just the reward. Babar top-scored for the hosts for the third straight game before falling to Andrew Tye while Hafeez finished 32 not out.
- This year's top 10 improvers, based on reforms undertaken, are Afghanistan, Djibouti, China, Azerbaijan, India, Togo, Kenya, Côte d'Ivoire, Turkey and Rwanda. The UAE implemented four reforms in the past year, related to ease of starting business, getting electricity, registering real estate and gaining access to credit, the report said. The World Bank's latest Doing Business Report 2019 was released in New Delhi on Wednesday. At the bottom of the list are South Sudan, Libya, Venezuela, Eritrea and Somalia, all considered countries where it is most hard to do business.
"The improvement is the result of a combination of measures taken by the government in the last four years", Commerce and Industry Minister Suresh Prabhu said.
In the report, Kenya was ranked 61 globally as a country with an environment that encouraged business and investments to thrive. It also improved building quality control by introducing decennial liability and insurance. It now takes only 7 days to transfer property and costs only 0.1 per cent of the property value, the same as in New Zealand.
China slashed electricity-connection times from close to 150 days in Beijing and Shanghai to little more than 30. Further, India reduced the time and cost of export and import through various initiatives, including the implementation of electronic sealing of containers, the upgrading of port infrastructure and allowing electronic submission of supporting documents with digital signatures, it said.
The report, "Doing Business 2019: Training for Reform", released on Wednesday night showed the Philippines, represented by Quezon City, garnering a score of 57.68 from a possible ideal score of 100.