ISLAMABAD: World Economic Forum (WEF) has appreciated efforts of the National Accountability Bureau (NAB) for the eradication of corruption and ranked Pakistan at 107 among 140 countries on the Global Competitiveness Index (GCI).
The WEF, in its Global Competitiveness Report 2018, has redefined combativeness 4.0. The new index provides guidelines for countries to gear up for the fourth industrial revolution.
The report has been presented to NAB Chairman Justice (r) Javed Iqbal by Amir Jahangir, Chief Executive Officer (CEO), Mishal Pakistan – Country Partner Institute of Future of Economic Progress System Initiative, World Economic Forum – says a press release issued here on Tuesday.
The report indicates that global ranking for incidents on corruption for Pakistan has been reduced to 99 in 2018 as compared to 102 last year.
This change reflects NAB’s proactive approach in reaching out the citizens to create awareness about the ill-effects of corruption. The NAB’s activities have been proven to be more transparent and very efficient across the board.
The recent developments by NAB have increased public’s trust in institutions and hope for an even more transparent nation.
The GCI 4.0 framework is built around 12 main drivers of productivity. These pillars are institutions, infrastructure, technological readiness, macroeconomic context, health, education and skills, product market, labour market, financial system, market size, business dynamism and innovation.
They comprise 98 individual indicators.
The report is part of World Economic Forum’s Centre for New Economy and Society that aims at building dynamic and inclusive economies in an era of accelerated technological and political change, providing leaders with a platform to understand and anticipate emerging economic and social trends.
A significant portion of the centre’s work focuses on shaping frameworks for fostering growth and inclusion, including an accelerator for industrial policy and competitiveness in the fourth industrial revolution. The centre is also supporting developed and emerging economies in setting up public-private collaborations to close skills gaps and prepare for the future of work as part of its human capital agenda.
The Global Competitiveness report’s new methodology also offers insights into economies’ readiness for future, social capital, the endowment of disruptive businesses and debt concerns, among other indicators.