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Imran Khan's tweet on the World bank report

25 October 2019, Friday 

From 136 to 108: Pakistan moves up in the World Bank's Doing Business Index 2020



Pakistan signs the Kartarpur Corridor agreement with India; The decline in automobile industry continues

PR Daily Brief | D. Suba Chandran

25 October 2019, Friday 

Pakistan moves up in the World Bank's Doing Business Index 2020

 

In the latest World Bank report on the subject, released on 24 October, Pakistan has moved up significantly, by 28 places, in the World Bank Ease of Doing Business Index. 
Imran Khan tweeted immediately, taking credit for the upward movement: “Over last decade Pakistan’s ranking had slipped more than 50 places. Now we have improved 28 places from 136 to 108.” Imran Khan also considers this as fulfilling one of the PTI manifesto. He also expects that “before the end of 2020 Pakistan will become one of the top places for investment.”
The general expectation within Pakistan is – this climbing up would attract external investment.
While Afghanistan (173), Bangladesh (168), Iran, Maldives (147) and Iran (127) are ranked below Pakistan in the region, Sri Lanka (99), Nepal (94), Bhutan (89) and India (63) are ahead in the 2020 report.

 

Pakistan signs the Kartarpur Corridor agreement with India

 

Pakistan signed the Kartarpur Corridor agreement with India linking two shrines in India (Dera Baba Nanak) and Pakistan (Darbar Sahib) across the international border between the two countries.
Darbar Sahib is situated four kms away from the international border inside Pakistan.
According to a Pakistani foreign office note, “under the agreement, India will provide a list of pilgrims 10 days before their visits so that they could be properly received.”
The Sikh pilgrims are expected to carry their passports and would be charged USD 20. However, the pilgrims would not need a visa to visit the Darbar Sahib.

 

The decline in the automobile industry continues

 

Early this month, there was a report relating to the auto parts industry laying off 40,000 workers due to the decline in auto sale during the last few quarters. Continuing with the trend, there has also been a decline in imports in the auto sector amounting to USD 261 million in the first quarter of this financial year.
The primary reason for the above decline is due to the fall in auto sale within Pakistan. According to Dawn, the auto sales fell by 39 per cent to 31,017 units in the first quarter of 2020 financial year. The truck and bus sales, during the first quarter, dropped to 874 and 196 units from 2,049 and 267 units respectively. Honda and Suzuki bike sales during the same period declined by 12 and 11 per cent respectively.
 

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