Pakistan most likely to initiate e-payment system

Pakistan most likely to initiate e-payment system

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LAHORE: Pakistan is most likely to initiate an e-payment system as almost 97% work in that regard had been completed, announced Punjab Finance Minister Dr. Ayesha Ghaus Pasha.

Speaking at the ‘Doing Business Reforms Exhibition’, organized by the Punjab Planning Department in collaboration with the World Bank on Monday, she said, “All provinces are on board and we are very close to fulfilling this long overdue demand of our business community.”

Pasha commented that the private sector had played a huge role in POSITIVELY contributing to the economy, adding the government was committed to increasing transparency and efficiency in administrative procedures. “This will create an enabling environment for private-sector development and lift investors’ confidence.”

As per the provincial finance minister, the agenda for achieving the goal of ease of doing business is to simplify procedures, eliminate on costs and cut down time for commencing and conducting business in Punjab.

“These initiatives will encourage investors to establish their business units, thus allowing the domestic industry to flourish, which will generate economic activities and eventually lead to export-led growth of the economy,” she added.

“Competitive business environment will foster investments, which will in turn create quality jobs, thereby elevating the socio-economic status of the public.”

Speaking on the occasion, World Bank Country Director for Pakistan Patchamuthu Illangovan said the work Pakistan in particular and Punjab in general had done over the past one decade was impressive, however, “this year we will see results.”

“We have to wait till September for fresh rankings on the ease of doing business, currently Pakistan stands at 147th position and the work it has done in this regard should be reflected in upcoming rankings,” he said.

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