By the grace of Allah, Pakistan is in the main stream
in the world. There is no threat of insolvency. In several dimensions,
our image abroad is improving. This piece looks at one aspect namely
Opacity Index as released in the Economist, London in their issue of
September 18, 2004, Page 106.
Opacity Index has been released in the Economist,
London in the past. This index measures the risks associated with the
FACTORS CONSIDERED IN OPACITY INDEX
Corporate Governance Standards
The survey for the above Index was extended to 48
countries. Some of the important points of interest are as under:
1) Finland has
one of the world's most transparent business climates in the world.
2) Britain has
become more transparent over the past few years.
Unfortunately America's rating has fallen.
China attracts much foreign investment, surprisingly she is even less
transparent than Nigeria.
5) The least
business climate is found in Indonesia.
Pakistan has been rated higher than many countries in
the world as is apparent from
PAKISTAN'S CUTTING EDGE OVER OTHER COUNTRIES
Based on research undertaken by Kurtzman group, an
International Consulting firm, Pakistan's position is even better than
It is high time that we must continue our continuous
improvement in further making our legal systems more clear, undertake
more and more deregulation exercises, reinforce the spirit of continuity
of economic policies, strengthen the implementation aspects of Corporate
Governance standards and continue our attack on reducing corruption at
the most minimum level. Consequently the image of Pakistan abroad will
continue to swing upward.
*Principal, Hailey College of Banking & Finance,
Constituent College of the University of the Punjab, Lahore.