Lahore: The Policy Research Institute of Market Economy (PRIME) Pakistan in partnership with Canada’s Fraser Institute released its Economic Freedom of the World 2017 report on Monday, which ranked the country at the bottom pit of economically free nations.
The report basis the performance of different countries on their policies, example levels of personal choice, security of privately owned property, rule of law, ability to enter markets etc and the data used to rank all nations is from 2015.
Pakistan still ranks amongst the least economically free nations, considering that the country’s ranking has gone up by 10 places to reach 127th position out of a total of 159 countries.
The country’s ranking based from a scale of 1-10 in different constituents was 7.86 for size of government from 7.88 a year ago, access to sound money score improved from 6.21 to 6.38, legal system and property rights score fell to 3.30 from 3.37 a year back, freedom to trade internationally fell to 5.77 from 5.82.
Regulation from labour, credit and business went up a notch to touch 6.31 from 6.19 a year ago.
The Chief Operating Officer PRIME, Ms. Ayesha Bilal said, “Although it is encouraging to see that Pakistan’s ranking in the Economic Freedom of the World Index 2017 has improved overall, there is a great room for improvement as we continue to be placed amongst the least free countries in the World and in Asia.”
