Senator Mohammad Ishaq Dar, the Finance Minister on October 26, 2016 witnessed the signing ceremony between the Government of Pakistan and Asian Development Bank (ADB) for a Loan agreement of US$ 250 million for Central Asia Regional Economic Cooperati…
The 15th Ministerial Conference of the Central Asia Regional Economic Cooperation (CAREC) with the theme Linking Connectivity with Economic Transformation in CAREC was held here. Finance Minister, Senator Mohammad Ishaq Dar chaired the Ministerial Conf…
A little girl rests on her hospital bed with several tubes attached to her body, one of which is connected to a dialysis machine next to the bed. On the other side of the room, an old man is undergoing hemodialysis connected to a second dialysis machin…
Male, October 25, 2016 � Doing Business 2017: Equal Opportunity for All, report launched today finds Maldives has maintained its Distance to Frontier score while the overall rank has slipped to 135 on the ease of doing business, compared to 128 in last year’s report. The change in rank does not reflect an actual worsening of the variables covered under Doing Business in Maldives over the past year, rather, it reflects the fact that during the last year there were no reforms on these areas, while peer economies did undertake substantive reforms. The change in overall ranking is also a result of data revisions related to paying taxes, gender dimension and protection of minority investors.
On the Distance to Frontier metric, based on the use of a comparable methodology, Maldives’s scores moved marginally from 53.99 in Doing Business 2016 to 53.94 in Doing Business 2017. The distance to frontier score captures the gap between an economy’s performance and a measure of best practice across the entire sample of 36 indicators for 10 Doing Business topics.
This year’s Doing Business report identifies areas where the business environment in Maldives is challenging to the private sector said Idah Pswarayi-Riddihough, World Bank Country Director for Sri Lanka and the Maldives. Simplified procedures would go a long way in enabling the creation of more and better jobs for the Maldivian youth while also inspiring entrepreneurship.
Released today, the report records a total of 11 reforms by five of the South Asian Region’s eight economies in the past year. Pakistan was one of the global top 10 improvers. Three reforms were implemented in the areas of Getting Credit, Registering Property and Trading Across Borders. India and Sri Lanka implemented four and two reforms, respectively. Among other things, India made Paying Taxes easier by introducing an electronic system for paying employee state insurance contributions. Additionally, India made Enforcing Contracts easier by creating dedicated divisions to resolve commercial cases.
The region’s economies perform best in the Doing Business areas of Protecting Minority Investors (with an average rank of 80) and Starting a Business (100). Except for the Maldives, no economy in the South Asia region has a minimum capital requirement for starting a business.
For the first time, Doing Business 2017 includes a gender dimension in three indicators: Starting a Business, Registering Property and Enforcing Contracts. The report finds that gender barriers exist in Afghanistan and Pakistan for women entrepreneurs. For instance, married women in Afghanistan are required to obtain permission to leave the home prior to registering a company.
The Paying Taxes indicator has been expanded to cover post-filing processes, such as tax audits and VAT refund. The report finds that audit compliance time is considerably high in Afghanistan.
The report cites research that demonstrates that better performance in Doing Business is, on average, associated with lower levels of income inequality, thereby reducing poverty and boosting shared prosperity.
Source: The World Bank
ISLAMABAD � Authorities in Pakistan say nearly 60 people were killed and more than 120 wounded when several heavily armed suicide bombers stormed a police training center in the southwestern city of Quetta.
Islamic State claimed responsibility for the attack in a statement carried by its Amaq news agency. Pakistani authorities have not commented on the claim.
The assault began just before midnight on Monday, with assailants entering the hostel for recruits inside the complex and spraying occupants with bullets.
They quickly seized a number of hostages before Pakistani troops and commando units surrounded and entered the facility to confront the gunmen.
The battle to clear the complex lasted several hours. Two attackers blew themselves up while a third was gunned down in the exchange of fire with security forces, ending the siege just before dawn on Tuesday, said a provincial official.
They (the victims) were all unarmed trainees who are normally at that time of the night either retiring to their bed or engage with their smart phones or other phones in their private leisure time. So, they took them by surprise, provincial government spokesman Anwar-ul Haq Kakar told VOA.
Some of the police and others inside the building escaped by jumping out windows. They told reporters the gunmen were wearing masks and started shooting as soon as they got inside.
Kakar said authorities have yet to determine the number of attackers . He added that he saw the body of one of them and a preliminary probe concluded the assailants were Uzbek militants.
The spokesman alleged that Afghan and intelligence operatives from rival India jointly facilitated the deadly assault like some previous terrorist acts hitting his province.
We are quite clear about this that they were being handled by Afghanistan and they were Afghan nationals as far as initial assessment is concerned,Kakar asserted.
Authorities in Afghanistan and India have not yet commented on the allegations.
Pakistani Prime Minister Nawaz Sharif condemned what he called a “cowardly” attack.
The United States has also condemned the terrorist attack in the capital of Baluchistan province.
We stand with the people of Pakistan and Government of Pakistan at this difficult hour, and we will continue to work with our partners in Pakistan and across the region to combat the threat of terrorism, said State Department spokesman John Kirby in Washington.
For its part, the Afghan government accuses the Pakistani spy agency of covertly supporting the Taliban and its ally, the Haqqani Network that have staged similar attacks on its side of the border.
U.S. Commander of NATO forces in Afghanistan General John Nicholson this week again acknowledged the nearly 2,600-kilometer long frontier posed challenges to both the countries.
It’s still a very pours border region and we do see insurgents moving both ways across the border, some from Afghanistan to Pakistan and then of course the Haqqanis and the Taliban moving from Pakistan into Afghanistan, the general told NBC.
He said there is a need for Afghans to increase the number of border posts on their side and both the neighboring countries also need to increase their coordination procedures.
The Pakistani province, particularly Quetta, has lately seen a spike in militant attacks. A suicide blast in early August just outside a hospital in the city killed more than 70 people.
Source: Voice Of America