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References in periodicals archive ?
According to experts, the exports were down not only because of high cost of doing business but also due to the lax attitude of the regulators who were ignoring the malpractices in imports.
He demanded that Government must reduce taxes and duties on import of Solar Panel and added that new conditions for import of solar panels which include PSQCA certificate, PSI certificate, certificate of conformance from exporting country, test report and accreditation certificate will increase the cost of doing business.
Lopez said the passage of the consolidated bill will cause an increase in the cost of doing business due to the absorption of losses and breakages by the business and the service charge to managers will have to be paid as incremental payroll.
The ICCI President said that government has also hiked the prices of electricity and gas including around 31 percent increase in CNG price from 1st July 2019 that would push up the cost of doing business. He said that at the one hand government was talking of promoting ease of doing business, but at the other hand it was taking decisions that would creating more problems for business sector.
'The unchecked rise in the greenback rates is multiplying the cost of doing business and badly affecting industrial, manufacturing, and agriculture sectors as Pakistan has to import fertilisers, food items, oil, machinery and industrial raw material.'
He was of the opinion that the cost of doing business has risen sharply nowadays due to upsurge in dollar, imposition of regulatory duties and an upward revision of utility tariffs.
However, making 150 bps hike in interest would add to the difficulties of private sector by enhancing cost of doing business and discourage new investment as one investor would like to invest in Pakistan in an environment of exorbitant credit cost.
Meanwhile, As the OGRA, after up to 143 percent hike in gas prices last year, has sought up to 47 percent further increase in the prices of gas for 2019-20, the Pakistan Industrial and Traders Associations Front has criticized the demand, terming it a deal with the IMF, saying the cost of doing business has already increased manifold, leading to constant decline in exports and high trade deficit.
It is required to reduce cost of doing business and provide ease in doing business to make the investment outlook of the Country better.
"The Cost of Doing Business Study assists with our planning process, specifically in setting future objectives.
class="MsoNormalPresident Magufuli noted that one of the things that hinder economic cooperation between countries in Africa is the challenge of trade facilitation which is exhibited through unnecessary delays on the road, at ports and border posts, contributing to an increase in the cost of doing business. According to research done by the World Bank, such challenges account for 65 per cent increase in the cost of doing business in Africa.