KARACHI: Pakistan was the 13th least prosperous country in the world with an overall rank of 136 out of 149 nations on the Legatum Prosperity Index in 2018.
The annual Legatum Prosperity Index ranks countries on nine pillars of prosperity, measuring each country’s economic quality and business environment, as well as the mode of governance, social capital, security, education and natural environment.
Pakistan’s rank of 136 did not improve since 2017, and the country ranks 23rd out of 24 countries in the Asia-Pacific region.
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According to the report, Pakistan’s strongest pillar has been governance, with political participation improving on average as compared to the region and rest of the world. This has been the biggest positive change for Pakistan compared to last year, as governance improved seven places since 2017.
On the other hand, the weakest pillar for the country has been natural environment, where it ranked 148th globally. The cumulative score took note of the increasing environmental pressures and quality, as well as the lack of preservation efforts undertaken in the recent year. The score for the natural environment declined nearly 8 points in the last five years.
Pakistan ranked 56th, in terms of economic quality, according to the report. The improvements are noted in areas of labour force engagement, economic inclusiveness and standard of living.
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Both the scores of education and health sectors have shown marginal improvements since 2017, but Pakistan still ranks 124 and 122 globally on these categories.
Given the precarious security conditions, the score for safety and security declined since 2017, but the Index noted gradual improvements in pillars of personal freedom and social capital.
The London-based Legatum Prosperity Index is an actionable tool for leaders around the world to understand the relationship between economic prosperity and social wellbeing in a comprehensive way and to use the findings of the report to shape an agenda of transformation.
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