Pakistan’s ranking has dropped one notch down to 107 in the recent Global Competitive Index report released by the World Economic Forum (WEF).
Pakistan had improved its ranking in the Global Competitive Index 2017 greatly by climbing up to 106th position from 135 during the past few years. However, it has again slipped down a rank, reaching 107th out of 140, indicating lack of efforts in sustaining growth and incomes on the part of the government.
As per available details, the ranking includes 12 pillars that consist of 98 indicators used in the index. These pillars include institutions, infrastructure, ICT adoption, macroeconomic stability, health, skills, product market, labor market, financial system, market size, business dynamism, and innovation capability.
Here’s how Pakistan ranks up in the index:
- 109th for Institutions with a score of 46,
- 93rd for Infrastructure with a score of 59,
- 127th for ICT adoption with a low score of 24.
- Market Size, i.e., at 31st position with a score of 71.
- As for economic stability, it ranks at 103rd,
- 109th position in health,
- 125th position in skills,
- 122nd position in product market,
- 121st position in labor market,
- 89th position in financial system,
- 67th position in business dynamism,
- 75th position in innovation capability.
It should be mentioned that despite the dip in rankings, the country’s score has improved overall with 51 points. However, it is still far away from a desirable score, i.e. 60 points.
Moreover, the country’s lowest score in ICT adoption is still an improvement from the previous year’s score, yet it indicates the need to form an attractive regulatory framework to promote investments.
Pakistan scored the worst in freedom of press, standing at 112th. It ranked as 70th in judicial independence; while in budget transparency, it ranked at 77.
The report termed Pakistan as the worst performer with regards to terrorist incidents. It is in the list of countries that need to control violence, crime, or terrorism.
In road connectivity, Pakistan stood at 62, the only indicator where it performed better than its neighboring country India, which is ranked at 76.