Competitiveness index ranking

Ranks Pakistan at 110th this year

Speaking at a gathering in 2019, a writer said there is a forecast that the capital of a South Asian country will run out of water by 2020, but recently he saw in the same city people smugly watering their lawns. The same kind of complacency prevails in most developing countries. Pakistan’s ranking on the Global Competitiveness Index of the World Economic Forum has slipped by three notches to 110 due to further deterioration in its position on seven out of 12 pillars.

The report, which was released on Oct 10, ranked Pakistan at 110th this year. It fared poorer than last year on indicators of corruption and freedom of the press but markedly improved its ranking on reducing organised crime and ensuring judicial independence. Life expectancy has declined by six months to 58 years. Surprisingly, Pakistan stays at the bottom of the index of incidence of terrorism despite a marked improvement in law and order. It also stays at the bottom among South Asian nations, according to the report that compared governance, innovation, productivity and human development in 141 countries this year as opposed to 140 in the previous year. This year, among 103 global competitiveness indicators, Pakistan showed improvement on 42 key indices, and on 39 indices, it lost its previous position. The results are based on the outcomes of executive surveys and statistics from international sources. The final rating of each country is based on 12 pillars and 103 indices. Out of the 12, Pakistan’s ranking deteriorated on seven, remained unchanged on one and improved on four pillars. The report is an annual assessment of the factors driving countries’ productivity and prosperity.

On the infrastructure pillar, Pakistan’s position slipped by seven notches to 105. On the pillar of business dynamics, the position jumped by 15 notches to 52. The maximum deterioration was on the pillar of macroeconomic stability where it lost 13 ranks and stood at 116 due to a marked deterioration in indices of inflation and debt dynamics.

Published in The Express Tribune, October 11^th, 2019.

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