Pakistan's competitive ranking drops to 101 from 84

Islamabad, July 27 (ANI): Pakistan's competitive ranking has dropped to 101 in 2009 from 84 in 2006 on the world Economic Forum's Global Competitiveness Index.

The country's competitiveness ranking dropped by nine points in a year. Prime Minister's Adviser on Finance Shaukat Tarin launched the "State of Pakistan's Competitiveness Report 2009" in the US at a cost of Rs15 million.

The report was officially launched at events organised in New York and Washington with Tarin as chief guest. It may be mentioned that no such event was held in Pakistan to share the report with the country's legislators or the business community.

According to sources, the Competitive Support Fund (CSF), a joint initiative of the finance ministry and the United States Agency for International Development (USAID), gave around Rs six million to the person who prepared the report, which was printed at a cost of Rs two million.

The CSF was set up in 2006 to reposition the national economy on a more competitive footing, but since its inception, the Dawn reports.

According to an official of the finance ministry, the event appeared to be a joke. There was nothing to celebrate in the report that the CSF spent millions of rupees on launching it, he said.

According to the report, Pakistan's ranking with respect to institutions dropped 14 places from 81 to 95, infrastructure from 72 to 85 and macro-economic stability from 101 to 116.

The rankings with respect to health and primary education dropped from 115 to 116, higher education and training 116 to 123, goods market efficiency 82 to 100, labour market efficiency 113 to 121, financial market sophistication 65 to 71 and technological readiness 89 to 100. The ranking in business sophistication dropped from 69 to 82.

The only factor remaining unchanged was market size where Pakistan retained its 29th rank.

Minister of State for Finance Hina Rabbani Khar, who is chairperson of the CSF, expressed ignorance about the launching of the report and conceded that Pakistan's ranking had dropped across the board. (ANI)