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<h1>
<img src="/App_Themes/css/images/Flags/PAK.gif" alt="Pakistan" width="76"
height="51" />
<p>Ease of Doing Business in</p>
Pakistan
</h1>
<div id="rootcontentcontrol_0_economydata_0_economySummary" class="module fancy-box
country-overview clearfix">
<h2>Economy Overview</h2>

<div class="rankings-overviews">

<table cellspacing="0" class="overview">

<tr>
<th>Region</th>
<td>South Asia</td>
</tr>
<tr>
<th>Income Category</th>
<td>Lower middle income</td>
</tr>
<tr>
<th>Population</th>
<td>169,708,303</td>
</tr>
<tr>
<th>GNI Per Capita (US$)</th>
<td>1,020.00</td>
</tr>
</table>

<table cellspacing="0" class="db-rankings">

<tr>
<th width="38%">Doing Business 2011 Rank</th>
<th width="38%">Doing Business 2010 Rank</th>
<th>Change in Rank</th>
</tr>
<tr>
<td>83</td>
<td>75</td>
<td class="rank-down">
<img src="/App_Themes/css/images/icons/rank-down-
11x13.png" alt="down" width="11" height="13" class="rank-icon" />
-8
</td>
</tr>
</table>
</div>

<div class="table-wrap category-rankings">

<table cellspacing="0">
<thead>
 <tr>
<th class="caption">Topic Rankings</th>
<th>DB 2011 Rank</th>
<th>DB 2010 Rank</th>
<th>Change in Rank</th>
</tr>
</thead>
<tbody>

<tr>
<th><a class="catRankingLink"
href="#starting-a-business">Starting a Business</a></th>
<td class="right">85</td>
<td class="zebra right">69</td>
<td class="rank-down right">
<img
src="/App_Themes/css/images/icons/rank-down-7x7.png" alt="up" width="7" height="7"
class="rank-icon" />
-16
</td>
</tr>

<tr>
<th><a class="catRankingLink"
href="#dealing-with-licenses">Dealing with Construction Permits</a></th>
<td class="right">98</td>
<td class="zebra right">102</td>
<td class="rank-up right">
<img
src="/App_Themes/css/images/icons/rank-up-7x7.png" alt="up" width="7" height="7"
class="rank-icon" />
4
</td>
</tr>

<tr>
<th><a class="catRankingLink"
href="#registering-property">Registering Property</a></th>
<td class="right">126</td>
<td class="zebra right">118</td>
<td class="rank-down right">
<img
src="/App_Themes/css/images/icons/rank-down-7x7.png" alt="up" width="7" height="7"
class="rank-icon" />
-8
</td>
</tr>

<tr>
<th><a class="catRankingLink"
href="#getting-credit">Getting Credit</a></th>
<td class="right">65</td>
<td class="zebra right">61</td>
<td class="rank-down right">
<img
src="/App_Themes/css/images/icons/rank-down-7x7.png" alt="up" width="7" height="7"
class="rank-icon" />
-4
</td>
 </tr>

<tr>
<th><a class="catRankingLink"
href="#protecting-investors">Protecting Investors</a></th>
<td class="right">28</td>
<td class="zebra right">27</td>
<td class="rank-down right">
<img
src="/App_Themes/css/images/icons/rank-down-7x7.png" alt="up" width="7" height="7"
class="rank-icon" />
-1
</td>
</tr>

<tr>
<th><a class="catRankingLink"
href="#paying-taxes">Paying Taxes</a></th>
<td class="right">145</td>
<td class="zebra right">139</td>
<td class="rank-down right">
<img
src="/App_Themes/css/images/icons/rank-down-7x7.png" alt="up" width="7" height="7"
class="rank-icon" />
-6
</td>
</tr>

<tr>
<th><a class="catRankingLink"
href="#trading-across-borders">Trading Across Borders</a></th>
<td class="right">81</td>
<td class="zebra right">78</td>
<td class="rank-down right">
<img
src="/App_Themes/css/images/icons/rank-down-7x7.png" alt="up" width="7" height="7"
class="rank-icon" />
-3
</td>
</tr>

<tr>
<th><a class="catRankingLink"
href="#enforcing-contracts">Enforcing Contracts</a></th>
<td class="right">155</td>
<td class="zebra right">156</td>
<td class="rank-up right">
<img
src="/App_Themes/css/images/icons/rank-up-7x7.png" alt="up" width="7" height="7"
class="rank-icon" />
1
</td>
</tr>

<tr>
<th><a class="catRankingLink"
href="#closing-a-business">Closing a Business</a></th>
<td class="right">67</td>
<td class="zebra right">56</td>
 <td class="rank-down right">
<img
src="/App_Themes/css/images/icons/rank-down-7x7.png" alt="up" width="7" height="7"
class="rank-icon" />
-11
</td>
</tr>

</tbody>
</table>

</div>

</div><div class="page-break"></div>

<!-- Topic Info Begin -->

<div class="category-title">
<h2> Starting a Business</h2>

</div>

<table cellspacing="0" class="rankings-inline">

<tr>
<th>DB 2011&nbsp;Rank</th>
<td>85</td>

<th>DB 2010&nbsp;Rank</th>
<td>69</td>

<th>Change in Rank</th>
<td class="rank-down">
<img src="/App_Themes/css/images/icons/rank-down-7x7.png"
alt="down" width="7" height="7" />-16
</td>
</tr>
</table>

<div class="table-wrap nohover">

<table cellspacing="0">
<thead>
<tr>
<th class="caption">Indicator</th>
<th class="center">Pakistan</th>
<th class="center">South Asia</th>
<th class="center">OECD</th>
</tr>
</thead>

<tbody>
<tr>
<th class="moreinfo">
<div>

<a href="javascript://">
Procedures (number)
</a>
</div>
 </th>
<td class="right">10</td>
<td class="zebra right">7.1</td>
<td class="right">5.6</td>
</tr>
</tbody>

<tbody>
<tr>
<th class="moreinfo">
<div>

<a href="javascript://">
Time (days)
</a>
</div>
</th>
<td class="right">21</td>
<td class="zebra right">24.6</td>
<td class="right">13.8</td>
</tr>
</tbody>

<tbody>
<tr>
<th class="moreinfo">
<div>

<a href="javascript://">
Cost (% of income per capita)
</a>
</div>
</th>
<td class="right">10.7</td>
<td class="zebra right">24.5</td>
<td class="right">5.3</td>
</tr>
</tbody>

<tbody>
<tr>
<th class="moreinfo">
<div>

<a href="javascript://">
Min. capital (% of income per capita)
</a>
</div>
</th>
<td class="right">0.0</td>
<td class="zebra right">24.1</td>
<td class="right">15.3</td>
</tr>
</tbody>

</table>

</div>
<!-- TimeMotion Info Begin -->
<div class="table-wrap procedures">

<table cellspacing="0">
<thead>
<tr>
<th class="caption">No.</th>
<th class="caption">Procedure</th>
<th>Time to Complete</th>
<th>Associated Costs</th>
</tr>
</thead>

<tbody>
<tr>
<th class="center"> 1</th>
<th>
Obtain approval of company name through the Securities
and Exchange Commission of Pakistan (SECP) E-service website

</th>
<td>
1 day
</td>
<td class="zebra">
PKR 200
</td>
</tr>
</tbody>

<tbody>
<tr>
<th class="center"> 2</th>
<th>
Pay the fees for name registration and company
incorporation using bank challans at the designated bank (MCB)

</th>
<td>
1 day
</td>
<td class="zebra">
no charge
</td>
</tr>
</tbody>

<tbody>
<tr>
<th class="center"> 3</th>
<th>
Register the company with the Securities & Exchange
Commission of Pakitan (SECP) through online E-services

</th>
 <td>
2 days
</td>
<td class="zebra">
PKR 7,000
</td>
</tr>
</tbody>

<tbody>
<tr>
<th class="center"> 4</th>
<th>
Obtain digital signatures from the National
Institutional Facilitation Technologies (NIFT) through the SECP e-services

</th>
<td>
1 day
</td>
<td class="zebra">
PKR 1,277
</td>
</tr>
</tbody>

<tbody>
<tr>
<th class="center"> 5</th>
<th>
Apply for a national tax number (NTN) and register for
income tax

</th>
<td>
2 days
</td>
<td class="zebra">
no charge
</td>
</tr>
</tbody>

<tbody>
<tr>
<th class="center"> 6</th>
<th>
Register for sales tax by applying for a Sales Tax
Number (STN) at the tax facilitation center of the Regional Tax Office (RTO) of the
Federal Board of Revenue (FBR) in Karachi

</th>
<td>
1 day
</td>
<td class="zebra">
 no charge
</td>
</tr>
</tbody>

<tbody>
<tr>
<th class="center">* 7</th>
<th>
Register for Professional Tax with the Excise &
Taxation Department of the District

</th>
<td>
7 days (simultaneous with the previous procedure)
</td>
<td class="zebra">
no charge
</td>
</tr>
</tbody>

<tbody>
<tr>
<th class="center">* 8</th>
<th>
Register with the Sind Employees Social Security
Institution (SESSI)

</th>
<td>
11 days (simultaneous with the previous procedure)
</td>
<td class="zebra">
no charge
</td>
</tr>
</tbody>

<tbody>
<tr>
<th class="center">* 9</th>
<th>
Register with Employees Old-Age Benefits Institution
(EOBI).

</th>
<td>
11 days (simultaneous with the previous procedure)
</td>
<td class="zebra">
no charge
</td>
</tr>
</tbody>
 <tbody>
<tr>
<th class="center">* 10</th>
<th>
Register under the West Pakistan Shops and
Establishment Ordinance 1969 with the Labour Department of the District

</th>
<td>
7 days
</td>
<td class="zebra">
PKR 10
</td>
</tr>
</tbody>

</table>

</div>
<!-- TimeMotion Info End -->
* Takes place simultaneously with another procedure.

<div class="footnotes">

</div>
<!-- Economy Header End -->
<div class="page-break"></div>

<!-- Topic Info Begin -->

<div class="category-title">
<h2> Dealing with Construction Permits</h2>

</div>

<table cellspacing="0" class="rankings-inline">

<tr>
<th>DB 2011&nbsp;Rank</th>
<td>98</td>

<th>DB 2010&nbsp;Rank</th>
<td>102</td>

<th>Change in Rank</th>
<td class="rank-up">
<img src="/App_Themes/css/images/icons/rank-up-7x7.png" alt="up"
width="7" height="7" />4
</td>
</tr>
</table>

<div class="table-wrap nohover">

<table cellspacing="0">
<thead>
<tr>
<th class="caption">Indicator</th>
 <th class="center">Pakistan</th>
<th class="center">South Asia</th>
<th class="center">OECD</th>
</tr>
</thead>

<tbody>
<tr>
<th class="moreinfo">
<div>

<a href="javascript://">
Procedures (number)
</a>
</div>
</th>
<td class="right">12</td>
<td class="zebra right">18.4</td>
<td class="right">15.8</td>
</tr>
</tbody>

<tbody>
<tr>
<th class="moreinfo">
<div>

<a href="javascript://">
Time (days)
</a>
</div>
</th>
<td class="right">223</td>
<td class="zebra right">241.0</td>
<td class="right">166.3</td>
</tr>
</tbody>

<tbody>
<tr>
<th class="moreinfo">
<div>

<a href="javascript://">
Cost (% of income per capita)
</a>
</div>
</th>
<td class="right">575.7</td>
<td class="zebra right">2,039.2</td>
<td class="right">62.1</td>
</tr>
</tbody>

</table>

</div>
<!-- TimeMotion Info Begin -->
<div class="table-wrap procedures">

<table cellspacing="0">
<thead>
<tr>
<th class="caption">No.</th>
<th class="caption">Procedure</th>
<th>Time to Complete</th>
<th>Associated Costs</th>
</tr>
</thead>

<tbody>
<tr>
<th class="center"> 1</th>
<th>
Obtain a letter from concerned authority confirming the
land title

</th>
<td>
30 days
</td>
<td class="zebra">
no charge
</td>
</tr>
</tbody>

<tbody>
<tr>
<th class="center"> 2</th>
<th>
Obtain a building permit

</th>
<td>
60 days
</td>
<td class="zebra">
PKR 140,000
</td>
</tr>
</tbody>

<tbody>
<tr>
<th class="center"> 3</th>
<th>
Notify the Karachi Building Control Authority (KBCA) in
writing of the completion of foundations

</th>
<td>
1 day
 </td>
<td class="zebra">
no charge
</td>
</tr>
</tbody>

<tbody>
<tr>
<th class="center"> 4</th>
<th>
Receive foundations work inspection from the Karachi
Building Control Authority (KBCA)

</th>
<td>
15 days
</td>
<td class="zebra">
no charge
</td>
</tr>
</tbody>

<tbody>
<tr>
<th class="center"> 5</th>
<th>
Request electricity connection

</th>
<td>
75 days
</td>
<td class="zebra">
PKR 228,000
</td>
</tr>
</tbody>

<tbody>
<tr>
<th class="center">* 6</th>
<th>
Request telephone connection

</th>
<td>
7 days
</td>
<td class="zebra">
PKR 750
</td>
</tr>
</tbody>
 <tbody>
<tr>
<th class="center">* 7</th>
<th>
Obtain copy of property tax valuation and copy of the
certificate from the tax authorities

</th>
<td>
30 days
</td>
<td class="zebra">
no charge
</td>
</tr>
</tbody>

<tbody>
<tr>
<th class="center">* 8</th>
<th>
Receive inspection from the Excise and Taxation
Department

</th>
<td>
1 day
</td>
<td class="zebra">
no charge
</td>
</tr>
</tbody>

<tbody>
<tr>
<th class="center">* 9</th>
<th>
Request water and sewerage connection

</th>
<td>
60 days
</td>
<td class="zebra">
PKR 90,000
</td>
</tr>
</tbody>

<tbody>
<tr>
<th class="center"> 10</th>
<th>
Apply for occupancy permit and request final inspection
 </th>
<td>
1 day
</td>
<td class="zebra">
no charge
</td>
</tr>
</tbody>

<tbody>
<tr>
<th class="center">* 11</th>
<th>
Receive final inspection

</th>
<td>
1 day
</td>
<td class="zebra">
no charge
</td>
</tr>
</tbody>

<tbody>
<tr>
<th class="center"> 12</th>
<th>
Receive completion certificate from the Karachi
Building Control Authority (KBCA)

</th>
<td>
51 days
</td>
<td class="zebra">
no charge
</td>
</tr>
</tbody>

</table>

</div>
<!-- TimeMotion Info End -->
* Takes place simultaneously with another procedure.

<div class="footnotes">

</div>
<!-- Economy Header End -->
<div class="page-break"></div>
<!-- Topic Info Begin -->
<div class="category-title">
<h2> Registering Property</h2>

</div>

<table cellspacing="0" class="rankings-inline">

<tr>
<th>DB 2011&nbsp;Rank</th>
<td>126</td>

<th>DB 2010&nbsp;Rank</th>
<td>118</td>

<th>Change in Rank</th>
<td class="rank-down">
<img src="/App_Themes/css/images/icons/rank-down-7x7.png"
alt="down" width="7" height="7" />-8
</td>
</tr>
</table>

<div class="table-wrap nohover">

<table cellspacing="0">
<thead>
<tr>
<th class="caption">Indicator</th>
<th class="center">Pakistan</th>
<th class="center">South Asia</th>
<th class="center">OECD</th>
</tr>
</thead>

<tbody>
<tr>
<th class="moreinfo">
<div>

<a href="javascript://">
Procedures (number)
</a>
</div>
</th>
<td class="right">6</td>
<td class="zebra right">6.3</td>
<td class="right">4.8</td>
</tr>
</tbody>

<tbody>
<tr>
<th class="moreinfo">
<div>

<a href="javascript://">
Time (days)
</a>
 </div>
</th>
<td class="right">50</td>
<td class="zebra right">99.8</td>
<td class="right">32.7</td>
</tr>
</tbody>

<tbody>
<tr>
<th class="moreinfo">
<div>

<a href="javascript://">
Cost (% of property value)
</a>
</div>
</th>
<td class="right">9.2</td>
<td class="zebra right">6.9</td>
<td class="right">4.4</td>
</tr>
</tbody>

</table>

</div>

<!-- TimeMotion Info Begin -->

<div class="table-wrap procedures">

<table cellspacing="0">
<thead>
<tr>
<th class="caption">No.</th>
<th class="caption">Procedure</th>
<th>Time to Complete</th>
<th>Associated Costs</th>
</tr>
</thead>

<tbody>
<tr>
<th class="center"> 1</th>
<th>
Advertisement of transaction in newspapers inviting
objections

</th>
<td>
8 days
</td>
<td class="zebra">
PKR 3,000
</td>
</tr>
</tbody>
 <tbody>
<tr>
<th class="center"> 2</th>
<th>
Hire deed writer or lawyer to draft sale purchase
agreement

</th>
<td>
1 day
</td>
<td class="zebra">
PKR 5,000
</td>
</tr>
</tbody>

<tbody>
<tr>
<th class="center"> 3</th>
<th>
Payment of stamp duty, capital value tax, Town tax and
registration fee

</th>
<td>
1 day
</td>
<td class="zebra">
4% of the property price (Capital value tax) +3% of
property price (stamp duty) + 1% of property price (registration fee)+ 1% Town Tax
</td>
</tr>
</tbody>

<tbody>
<tr>
<th class="center"> 4</th>
<th>
Obtaining a Non-Objection Certificate

</th>
<td>
1 day
</td>
<td class="zebra">
included in procedure 3
</td>
</tr>
</tbody>

<tbody>
<tr>
<th class="center"> 5</th>
<th>
 Receipt of payment is taken to Stamp Office

</th>
<td>
1 day
</td>
<td class="zebra">
no cost
</td>
</tr>
</tbody>

<tbody>
<tr>
<th class="center"> 6</th>
<th>
Execution and registration of the deed before the
registration authority

</th>
<td>
38 days
</td>
<td class="zebra">
no cost
</td>
</tr>
</tbody>

</table>

</div>
<!-- TimeMotion Info End -->

<div class="footnotes">

</div>
<!-- Economy Header End -->
<div class="page-break"></div>

<!-- Topic Info Begin -->

<div class="category-title">
<h2> Getting Credit</h2>

</div>

<table cellspacing="0" class="rankings-inline">

<tr>
<th>DB 2011&nbsp;Rank</th>
<td>65</td>

<th>DB 2010&nbsp;Rank</th>
<td>61</td>

<th>Change in Rank</th>
 <td class="rank-down">
<img src="/App_Themes/css/images/icons/rank-down-7x7.png"
alt="down" width="7" height="7" />-4
</td>
</tr>
</table>

<div class="table-wrap nohover">

<table cellspacing="0">
<thead>
<tr>
<th class="caption">Indicator</th>
<th class="center">Pakistan</th>
<th class="center">South Asia</th>
<th class="center">OECD</th>
</tr>
</thead>

<tbody>
<tr>
<th class="moreinfo">
<div>

<a href="javascript://">
Strength of legal rights index (0-10)
</a>
</div>
</th>
<td class="right">6</td>
<td class="zebra right">5.4</td>
<td class="right">6.9</td>
</tr>
</tbody>

<tbody>
<tr>
<th class="moreinfo">
<div>

<a href="javascript://">
Depth of credit information index (0-6)
</a>
</div>
</th>
<td class="right">4</td>
<td class="zebra right">2.1</td>
<td class="right">4.7</td>
</tr>
</tbody>

<tbody>
<tr>
<th class="moreinfo">
<div>

<a href="javascript://">
Public registry coverage (% of adults)
</a>
 </div>
</th>
<td class="right">5.8</td>
<td class="zebra right">0.8</td>
<td class="right">8.0</td>
</tr>
</tbody>

<tbody>
<tr>
<th class="moreinfo">
<div>

<a href="javascript://">
Private bureau coverage (% of adults)
</a>
</div>
</th>
<td class="right">1.4</td>
<td class="zebra right">3.8</td>
<td class="right">61.0</td>
</tr>
</tbody>

</table>

</div>

<div class="fancy-box clearfix noleftpadding table-wrap" style="width:100% !

important;">

<table cellspacing="0">
<thead>
<tr>
<th>

Depth of credit information index (0-6)

</th>

<th>

Private credit bureau

</th>

<th>

Public credit registry

</th>

<th>
Score
</th>

</tr>
</thead>

<tbody>
 <tr>
<th>
Are data on both firms and individuals distributed?
</th>
<td>
Yes
</td>
<td>
Yes
</td>
<td>
1
</td>
</tr>
</tbody>

<tbody>
<tr>
<th>
Are both positive and negative data distributed?
</th>
<td>
Yes
</td>
<td>
No
</td>
<td>
1
</td>
</tr>
</tbody>

<tbody>
<tr>
<th>
Does the registry distribute credit information from
retailers, trade creditors or utility companies as well as financial institutions?
</th>
<td>
No
</td>
<td>
No
</td>
<td>
0
</td>
</tr>
</tbody>

<tbody>
<tr>
<th>
Are more than 2 years of historical credit information
distributed?
</th>
<td>
Yes
 </td>
<td>
No
</td>
<td>
1
</td>
</tr>
</tbody>

<tbody>
<tr>
<th>
Is data on all loans below 1% of income per capita
distributed?
</th>
<td>
Yes
</td>
<td>
Yes
</td>
<td>
1
</td>
</tr>
</tbody>

<tbody>
<tr>
<th>
Is it guaranteed by law that borrowers can inspect their
data in the largest credit registry?
</th>
<td>
No
</td>
<td>
No
</td>
<td>
0
</td>
</tr>
</tbody>

<thead>
<tr>
<th class="righ">
Score ("yes" to either public bureau or private
registry)
</th>
<th>
</th>
<th>
</th>
<th>
4
 </th>
</tr>
</thead>
</table>

</div>
<div class="module fancy-box clearfix noleftpadding table-wrap"
style="width:100% !important;">

<table cellspacing="0">
<thead>
<tr>
<th>
Strength of legal rights index (0-10)

</th>
<b>
<th>
</th>
</b>
</tr>
</thead>
<tbody>

<tr>
<th>
Can any business use movable assets as collateral while
keeping possession of the assets; and any financial institution accept such assets
as collateral ?
</th>
<td>
Yes
</td>
</tr>

<tr>
<th>
Does the law allow businesses to grant a non possessory
security right in a single category of movable assets, without requiring a specific
description of collateral?
</th>
<td>
Yes
</td>
</tr>

<tr>
<th>
Does the law allow businesses to grant a non possessory
security right in substantially all of its assets, without requiring a specific
description of collateral?
</th>
<td>
Yes
</td>
</tr>

<tr>
<th>
 May a security right extend to future or after-acquired
assets, and may it extend automatically to the products, proceeds or replacements
of the original assets ?
</th>
<td>
Yes
</td>
</tr>

<tr>
<th>
Is a general description of debts and obligations permitted
in collateral agreements, so that all types of obligations and debts can be secured
by stating a maximum amount rather than a specific amount between the parties ?
</th>
<td>
No
</td>
</tr>

<tr>
<th>
Is a collateral registry in operation, that is unified
geographically and by asset type, as well as indexed by the grantor's name of a
security right ?
</th>
<td>
No
</td>
</tr>

<tr>
<th>
Do secured creditors have absolute priority to their
collateral outside bankruptcy procedures?
</th>
<td>
No
</td>
</tr>

<tr>
<th>
Do secured creditors have absolute priority to their
collateral in bankruptcy procedures?
</th>
<td>
No
</td>
</tr>

<tr>
<th>
During reorganization, are secured creditors' claims exempt
from an automatic stay on enforcement?
</th>
<td>
Yes
</td>
 </tr>

<tr>
<th>
Does the law authorize parties to agree on out of court
enforcement?
</th>
<td>
Yes
</td>
</tr>

</tbody>
<thead>
<tr>
<th class="righ">
Score (number of "yes" responses)
</th>
<th>
6
</th>
</tr>
</thead>
</table>

</div>

<div class="module fancy-box clearfix noleftpadding table-wrap"

style="width:100% !important;">
<table cellspacing="0">
<thead>
<tr>
<th>
Coverage
</th>

<th>Private credit bureau

</th>

<th>Public credit registry

</th>
</tr>
</thead>
<tbody>
<tr><th>Number of
individuals</th><td>..</td><td>6,584,350</td><tr><th>Number of
firms</th><td>..</td><td>92,029</td>
</tbody>
<thead>
<tr>
<th class="righ">
Percent of total
</th>
<th>1.4</th>
<th>
5.8
</th>
</tr>
</thead>
 </table>
</div>

<div class="footnotes">

</div>
<!-- Economy Header End -->
<div class="page-break"></div>

<!-- Topic Info Begin -->

<div class="category-title">
<h2> Protecting Investors</h2>

</div>

<table cellspacing="0" class="rankings-inline">

<tr>
<th>DB 2011&nbsp;Rank</th>
<td>28</td>

<th>DB 2010&nbsp;Rank</th>
<td>27</td>

<th>Change in Rank</th>
<td class="rank-down">
<img src="/App_Themes/css/images/icons/rank-down-7x7.png"
alt="down" width="7" height="7" />-1
</td>
</tr>
</table>

<div class="table-wrap nohover">

<table cellspacing="0">
<thead>
<tr>
<th class="caption">Indicator</th>
<th class="center">Pakistan</th>
<th class="center">South Asia</th>
<th class="center">OECD</th>
</tr>
</thead>

<tbody>
<tr>
<th class="moreinfo">
<div>

<a href="javascript://">
Extent of disclosure index (0-10)
</a>
</div>
</th>
<td class="right">6</td>
<td class="zebra right">4.4</td>
<td class="right">6.0</td>
</tr>
 </tbody>

<tbody>
<tr>
<th class="moreinfo">
<div>

<a href="javascript://">
Extent of director liability index (0-10)
</a>
</div>
</th>
<td class="right">6</td>
<td class="zebra right">4.4</td>
<td class="right">5.2</td>
</tr>
</tbody>

<tbody>
<tr>
<th class="moreinfo">
<div>

<a href="javascript://">
Ease of shareholder suits index (0-10)
</a>
</div>
</th>
<td class="right">7</td>
<td class="zebra right">6.3</td>
<td class="right">6.8</td>
</tr>
</tbody>

<tbody>
<tr>
<th class="moreinfo">
<div>

<a href="javascript://">
Strength of investor protection index (0-10)
</a>
</div>
</th>
<td class="right">6.3</td>
<td class="zebra right">5.0</td>
<td class="right">6.0</td>
</tr>
</tbody>

</table>

</div>

<!-- TimeMotion Info Begin -->

<div class="table-wrap procedures">

<table cellspacing="0">
 <thead>
<tr>
<th colspan="2">Nature of Procedure</th>
<th>Indicator</th>
</tr>
</thead>

<tbody>
<tr>
<td class="header" colspan="2">
Extent of disclosure index (0-10)
</td>

<td class="right">
6
</td>
</tr>
</tbody>

<tbody>
<tr>
<th class="subheader">
What corporate body provides legally sufficient
approval for the transaction?
</th>

<th class="subheader">

</th>

<th class="right">
2
</th>
</tr>
</tbody>

<tbody>
<tr>
<th class="subheader">
Whether disclosure of the conflict of interest by Mr.
James to the board of directors is required?
</th>

<th class="subheader">

</th>

<th class="right">
2
</th>
</tr>
</tbody>

<tbody>
<tr>
 <th class="subheader">
Whether immediate disclosure of the transaction to the
public and/or shareholders is required?
</th>

<th class="subheader">

</th>

<th class="right">
0
</th>
</tr>
</tbody>

<tbody>
<tr>
<th class="subheader">
Whether disclosure of the transaction in published
periodic filings (annual reports) is required?
</th>

<th class="subheader">

</th>

<th class="right">
2
</th>
</tr>
</tbody>

<tbody>
<tr>
<th class="subheader">
Whether an external body must review the terms of the
transaction before it takes place?
</th>

<th class="subheader">

</th>

<th class="right">
0
</th>
</tr>
</tbody>

<tbody>
<tr>
<td class="header" colspan="2">
Extent of director liability index (0-10)
</td>
 <td class="right">
6
</td>
</tr>
</tbody>

<tbody>
<tr>
<th class="subheader">
Whether shareholders can sue directly or derivatively
for the damage that the Buyer-Seller transaction causes to the company?
</th>

<th class="subheader">

</th>

<th class="right">
0
</th>
</tr>
</tbody>

<tbody>
<tr>
<th class="subheader">
Whether shareholders can hold Mr. James liable for the
damage that the Buyer-Seller transaction causes to the company?
</th>

<th class="subheader">

</th>

<th class="right">
1
</th>
</tr>
</tbody>

<tbody>
<tr>
<th class="subheader">
Whether shareholders can hold the approving body (the
CEO or board of directors) liable for the damage that the Buyer-Seller transaction
causes to the company?
</th>

<th class="subheader">

</th>

<th class="right">
1
</th>
</tr>
</tbody>

<tbody>
 <tr>
<th class="subheader">
Whether a court can void the transaction upon a
successful claim by a shareholder plaintiff?
</th>

<th class="subheader">

</th>

<th class="right">
1
</th>
</tr>
</tbody>

<tbody>
<tr>
<th class="subheader">
Whether Mr. James pays damages for the harm caused to
the company upon a successful claim by the shareholder plaintiff?
</th>

<th class="subheader">

</th>

<th class="right">
1
</th>
</tr>
</tbody>

<tbody>
<tr>
<th class="subheader">
Whether Mr. James repays profits made from the
transaction upon a successful claim by the shareholder plaintiff?
</th>

<th class="subheader">

</th>

<th class="right">
1
</th>
</tr>
</tbody>

<tbody>
<tr>
<th class="subheader">
Whether fines and imprisonment can be applied against
Mr. James?
</th>

<th class="subheader">
 </th>

<th class="right">
1
</th>
</tr>
</tbody>

<tbody>
<tr>
<td class="header" colspan="2">
Ease of shareholder suits index (0-10)
</td>

<td class="right">
7
</td>
</tr>
</tbody>

<tbody>
<tr>
<th class="subheader">
Whether shareholders owning 10% or less of Buyer's
shares can inspect transaction documents before filing suit?
</th>

<th class="subheader">

</th>

<th class="right">
0
</th>
</tr>
</tbody>

<tbody>
<tr>
<th class="subheader">
Whether shareholders owning 10% or less of Buyer's
shares can request an inspector to investigate the transaction?
</th>

<th class="subheader">

</th>

<th class="right">
1
</th>
</tr>
</tbody>

<tbody>
 <tr>
<th class="subheader">
Whether the plaintiff can obtain any documents from the
defendant and witnesses during trial?
</th>

<th class="subheader">

</th>

<th class="right">
4
</th>
</tr>
</tbody>

<tbody>
<tr>
<th class="subheader">
Whether the plaintiff can request categories of
documents from the defendant without identifying specific ones?
</th>

<th class="subheader">

</th>

<th class="right">
0
</th>
</tr>
</tbody>

<tbody>
<tr>
<th class="subheader">
Whether the plaintiff can directly question the
defendant and witnesses during trial?
</th>

<th class="subheader">

</th>

<th class="right">
1
</th>
</tr>
</tbody>

<tbody>
<tr>
<th class="subheader">
Whether the level of proof required for civil suits is
lower than that of criminal cases?
</th>

<th class="subheader">
 </th>

<th class="right">
1
</th>
</tr>
</tbody>

<tbody>
<tr>
<td class="header" colspan="2">
Strength of investor protection index (0-10)
</td>

<td class="right">
6.3
</td>
</tr>
</tbody>

</table>

</div>
<!-- TimeMotion Info End -->

<p>
<a name="InvestorProtectionNotes">
</a>
<strong>Notes:</strong>
<br />
<br />
<strong>Extent of Disclosure Index (0-10)</strong>
<br />
<br />
<em>What corporate body provides legally sufficient approval for the
transaction?</em>
<br />0=CEO or managing director alone; 1=shareholders or board of directors
vote and Mr. James can vote; 2=board of directors votes and Mr. James cannot vote;
3 = shareholders vote and Mr. James cannot vote<br /><br /><em>Immediate disclosure
to the public and/or shareholders</em><br />0=none; 1=disclosure on the transaction
only; 2=disclosure on the transaction and Mr. James' conflict of interest<br
/><br /><em>Disclosures in published periodic filings</em><br />0=none;
1=disclosure on the transaction only; 2=disclosure on the transaction and Mr.
James' conflict of interest<br /><br /><em>Disclosures by Mr. James to board of
directors</em><br />0=none; 1=existence of a conflict without any specifics; 2=
full disclosure of all material facts<br /><br /><strong>Director Liability Index
(0-10)</strong><br /><br /><em>Shareholder plaintiff’s ability to hold Mr. James
liable for damage the Buyer-Seller transaction causes to the company</em> <br />0=
Mr. James is not liable or liable only if he acted fraudulently or in bad faith; 1=
Mr. James is liable if he influenced the approval or was negligent; 2= Mr. James is
liable if the transaction was unfair, oppressive or prejudicial to minority
shareholders<br /><br /><em>Shareholder plaintiff’s ability to hold the approving
body (the CEO or board of directors) liable for for damage to the
company</em><br />0=members of the approving body are either not liable or liable
only if they acted fraudulently or in bad faith; 1=liable for negligence in the
approval of the transaction; 2=liable if the transaction is unfair, oppressive, or
prejudicial to minority shareholders<br /><br /><em>Whether a court can void the
transaction upon a successful claim by a shareholder plaintiff</em><br
/>0=rescission is unavailable or available only in case of Seller's fraud or bad
faith; 1=available when the transaction is oppressive or prejudicial to minority
shareholders; 2=available when the transaction is unfair or entails a conflict of
interest<br /><br /><em>Shareholder plaintiffs’ ability to sue directly or
derivatively for damage the transaction causes to the company</em><br />0=not
available; 1=direct or derivative suit available for shareholders holding 10% of
share capital or less<br /><br /><strong>Shareholder Suits Index (0-10)</strong><br
/><br /><em>Documents available to the plaintiff from the defendant and witnesses
during trail</em><br />Score 1 each for (1) information that the defendant has
indicated he intends to rely on for his defense; (2) information that directly
proves specific facts in the plaintiff’s claim; (3) any information that is
relevant to the subject matter of the claim; and (4) any information that may lead
to the discovery of relevant information. <br /><br /><em>Ability of plaintiffs to
directly question the defendant and witnesses during trial</em><br />0=no; 1=yes,
with prior approval by the court of the questions posed; 2=yes, without prior
approval</p>
<p>
<strong>Strength of Investor Protection Index (0-10)</strong>
</p>
<p>Average of the extent of disclosure index, director liability index, and
shareholder suits index.<br /></p>

<div class="footnotes">

</div>
<!-- Economy Header End -->
<div class="page-break"></div>

<!-- Topic Info Begin -->

<div class="category-title">
<h2> Paying Taxes</h2>

</div>

<table cellspacing="0" class="rankings-inline">

<tr>
<th>DB 2011&nbsp;Rank</th>
<td>145</td>

<th>DB 2010&nbsp;Rank</th>
<td>139</td>

<th>Change in Rank</th>
<td class="rank-down">
<img src="/App_Themes/css/images/icons/rank-down-7x7.png"
alt="down" width="7" height="7" />-6
</td>
</tr>
</table>

<div class="table-wrap nohover">

<table cellspacing="0">
<thead>
<tr>
 <th class="caption">Indicator</th>
<th class="center">Pakistan</th>
<th class="center">South Asia</th>
<th class="center">OECD</th>
</tr>
</thead>

<tbody>
<tr>
<th class="moreinfo">
<div>

<a href="javascript://">
Payments (number per year)
</a>
</div>
</th>
<td class="right">47</td>
<td class="zebra right">31.1</td>
<td class="right">14.2</td>
</tr>
</tbody>

<tbody>
<tr>
<th class="moreinfo">
<div>

<a href="javascript://">
Time (hours per year)
</a>
</div>
</th>
<td class="right">560</td>
<td class="zebra right">282.9</td>
<td class="right">199.3</td>
</tr>
</tbody>

<tbody>
<tr>
<th class="moreinfo">
<div>

<a href="javascript://">
Profit tax (%)
</a>
</div>
</th>
<td class="right">14.3</td>
<td class="zebra right">17.8</td>
<td class="right">16.8</td>
</tr>
</tbody>

<tbody>
<tr>
<th class="moreinfo">
<div>
 <a href="javascript://">
Labor tax and contributions (%)
</a>
</div>
</th>
<td class="right">15.0</td>
<td class="zebra right">7.8</td>
<td class="right">23.3</td>
</tr>
</tbody>

<tbody>
<tr>
<th class="moreinfo">
<div>

<a href="javascript://">
Other taxes (%)
</a>
</div>
</th>
<td class="right">2.3</td>
<td class="zebra right">14.2</td>
<td class="right">3.0</td>
</tr>
</tbody>

<tbody>
<tr>
<th class="moreinfo">
<div>

<a href="javascript://">
Total tax rate (% profit)
</a>
</div>
</th>
<td class="right">31.6</td>
<td class="zebra right">39.9</td>
<td class="right">43.0</td>
</tr>
</tbody>

</table>

</div>

<!-- Tax Details Begin -->

<div class="table-wrap procedures">

<table cellspacing="0">
<thead>
<tr>
<th class="caption">Tax or mandatory
contribution</th>
<th>Payments (number)</th>
<th>Notes on Payments</th>
 <th>Time (hours)</th>
<th>Statutory tax rate</th>
<th>Tax base</th>
<th>Total tax rate (% profit)</th>
<th>Notes on TTR</th>
</tr>
</thead>

<tbody>
<tr>
<th>Corporate income tax</th>
<td class="zebra right">5</td>
<td></td>
<td class="zebra right">40</td>
<td>35.0%</td>
<td class="zebra">taxable profit</td>
<td class="right">14.3</td>
<td></td>
</tr>
</tbody>

<tbody>
<tr>
<th>Social security contributions</th>
<td class="zebra right">12</td>
<td></td>
<td class="zebra right">40</td>
<td>6.0%</td>
<td class="zebra">gross salaries</td>
<td class="right">6.8</td>
<td></td>
</tr>
</tbody>

<tbody>
<tr>
<th>Pension contributions</th>
<td class="zebra right">12</td>
<td></td>
<td class="zebra right"></td>
<td>5.0%</td>
<td class="zebra">gross salaries</td>
<td class="right">5.5</td>
<td></td>
</tr>
</tbody>

<tbody>
<tr>
<th>Education cess</th>
<td class="zebra right">1</td>
<td></td>
<td class="zebra right"></td>
<td>PKR 100 per month</td>
<td class="zebra">per worker</td>
<td class="right">2.7</td>
<td></td>
</tr>
</tbody>
 <tbody>
<tr>
<th>Property tax</th>
<td class="zebra right">1</td>
<td></td>
<td class="zebra right"></td>
<td>18% (including 10% discount)</td>
<td class="zebra">annual rental value of
property</td>
<td class="right">0.9</td>
<td></td>
</tr>
</tbody>

<tbody>
<tr>
<th>Fuel tax</th>
<td class="zebra right">1</td>
<td></td>
<td class="zebra right"></td>
<td>25.0%</td>
<td class="zebra">value of fuel consumption</td>
<td class="right">0.8</td>
<td></td>
</tr>
</tbody>

<tbody>
<tr>
<th>Professional tax</th>
<td class="zebra right">1</td>
<td></td>
<td class="zebra right"></td>
<td>fixed fee (PKR 10,000)</td>
<td class="zebra"></td>
<td class="right">0.4</td>
<td></td>
</tr>
</tbody>

<tbody>
<tr>
<th>Tax on interest</th>
<td class="zebra right">0</td>
<td>withheld</td>
<td class="zebra right"></td>
<td>10.0%</td>
<td class="zebra">interest</td>
<td class="right">0.3</td>
<td>included in other taxes</td>
</tr>
</tbody>

<tbody>
<tr>
<th>Vehicle tax</th>
<td class="zebra right">1</td>
<td></td>
 <td class="zebra right"></td>
<td>fixed fee</td>
<td class="zebra"></td>
<td class="right">0.2</td>
<td></td>
</tr>
</tbody>

<tbody>
<tr>
<th>Stamp duty</th>
<td class="zebra right">1</td>
<td></td>
<td class="zebra right"></td>
<td>slab rate based on contract value</td>
<td class="zebra"></td>
<td class="right"></td>
<td></td>
</tr>
</tbody>

<tbody>
<tr>
<th>VAT/GST</th>
<td class="zebra right">12</td>
<td></td>
<td class="zebra right">480</td>
<td>15.0%</td>
<td class="zebra">value added</td>
<td class="right"></td>
<td>not included</td>
</tr>
</tbody>

<tbody>
<tr>
<th>Totals:</th>
<td class="zebra right">47</td>
<td></td>
<td class="zebra right">560</td>
<td></td>
<td class="zebra"></td>
<td class="right">31.6</td>
<td></td>
</tr>
</tbody>

</table>

</div>
<!-- Tax Details End -->

<div class="footnotes">

</div>
<!-- Economy Header End -->
<div class="page-break"></div>
<!-- Topic Info Begin -->
<div class="category-title">
<h2> Trading Across Borders</h2>

</div>

<table cellspacing="0" class="rankings-inline">

<tr>
<th>DB 2011&nbsp;Rank</th>
<td>81</td>

<th>DB 2010&nbsp;Rank</th>
<td>78</td>

<th>Change in Rank</th>
<td class="rank-down">
<img src="/App_Themes/css/images/icons/rank-down-7x7.png"
alt="down" width="7" height="7" />-3
</td>
</tr>
</table>

<div class="table-wrap nohover">

<table cellspacing="0">
<thead>
<tr>
<th class="caption">Indicator</th>
<th class="center">Pakistan</th>
<th class="center">South Asia</th>
<th class="center">OECD</th>
</tr>
</thead>

<tbody>
<tr>
<th class="moreinfo">
<div>

<a href="javascript://">
Documents to export (number)
</a>
</div>
</th>
<td class="right">9</td>
<td class="zebra right">8.5</td>
<td class="right">4.4</td>
</tr>
</tbody>

<tbody>
<tr>
<th class="moreinfo">
<div>

<a href="javascript://">
Time to export (days)
</a>
 </div>
</th>
<td class="right">21</td>
<td class="zebra right">32.3</td>
<td class="right">10.9</td>
</tr>
</tbody>

<tbody>
<tr>
<th class="moreinfo">
<div>

<a href="javascript://">
Cost to export (US$ per container)
</a>
</div>
</th>
<td class="right">611</td>
<td class="zebra right">1,511.6</td>
<td class="right">1,058.7</td>
</tr>
</tbody>

<tbody>
<tr>
<th class="moreinfo">
<div>

<a href="javascript://">
Documents to import (number)
</a>
</div>
</th>
<td class="right">8</td>
<td class="zebra right">9.0</td>
<td class="right">4.9</td>
</tr>
</tbody>

<tbody>
<tr>
<th class="moreinfo">
<div>

<a href="javascript://">
Time to import (days)
</a>
</div>
</th>
<td class="right">18</td>
<td class="zebra right">32.5</td>
<td class="right">11.4</td>
</tr>
</tbody>

<tbody>
<tr>
<th class="moreinfo">
 <div>

<a href="javascript://">
Cost to import (US$ per container)
</a>
</div>
</th>
<td class="right">680</td>
<td class="zebra right">1,744.5</td>
<td class="right">1,106.3</td>
</tr>
</tbody>

</table>

</div>

<!-- TimeMotion Info Begin -->

<div class="table-wrap procedures">
<div style="float:left; width:49.5%;">

<table cellspacing="0">
<thead>
<tr>
<th>Nature of Export Procedures</th>
<th>Duration (days)</th>
<th>US$ Cost</th>
</tr>
</thead>

<tbody>
<tr>
<th>Documents preparation</th>
<td>11</td>
<td class="zebra">96</td>
</tr>
</tbody>

<tbody>
<tr>
<th>Customs clearance and technical control</th>
<td>3</td>
<td class="zebra">200</td>
</tr>
</tbody>

<tbody>
<tr>
<th>Ports and terminal handling</th>
<td>3</td>
<td class="zebra">115</td>
</tr>
</tbody>

<tbody>
<tr>
<th>Inland transportation and handling</th>
<td>4</td>
 <td class="zebra">200</td>
</tr>
</tbody>

<tbody>
<tr>
<th>Totals</th>
<td>21</td>
<td class="zebra">611</td>
</tr>
</tbody>

</table>

</div>
<div style="float:right; width:49.5%;">

<table cellspacing="0">
<thead>
<tr>
<th>Nature of Import Procedures</th>
<th>Duration (days)</th>
<th>US$ Cost</th>
</tr>
</thead>

<tbody>
<tr>
<th>Documents preparation</th>
<td>11</td>
<td class="zebra">130</td>
</tr>
</tbody>

<tbody>
<tr>
<th>Customs clearance and technical control</th>
<td>2</td>
<td class="zebra">200</td>
</tr>
</tbody>

<tbody>
<tr>
<th>Ports and terminal handling</th>
<td>3</td>
<td class="zebra">150</td>
</tr>
</tbody>

<tbody>
<tr>
<th>Inland transportation and handling</th>
<td>2</td>
<td class="zebra">200</td>
</tr>
</tbody>

<tbody>
 <tr>
<th>Totals</th>
<td>18</td>
<td class="zebra">680</td>
</tr>
</tbody>

</table>

</div>
<div style="float:left; width:49%; margin-top:2em;">

<table cellspacing="0">
<thead>
<tr>
<th>Export documents</th>
</tr>
</thead>

<tbody>
<tr>
<th>Bill of lading</th>
</tr>
</tbody>

<tbody>
<tr>
<th>Certificate of origin</th>
</tr>
</tbody>

<tbody>
<tr>
<th>Commercial invoice</th>
</tr>
</tbody>

<tbody>
<tr>
<th>Customs export declaration</th>
</tr>
</tbody>

<tbody>
<tr>
<th>Delivery order</th>
</tr>
</tbody>

<tbody>
<tr>
<th>Inspection report</th>
</tr>
</tbody>

<tbody>
<tr>
<th>Insurance certificate</th>
</tr>
 </tbody>

<tbody>
<tr>
<th>Packing list</th>
</tr>
</tbody>

<tbody>
<tr>
<th>Tax certificate</th>
</tr>
</tbody>

</table>

</div>
<div style="float:right; width:49%; margin-top:2em;">

<table cellspacing="0">
<thead>
<tr>
<th>Import documents</th>
</tr>
</thead>

<tbody>
<tr>
<th>Bill of lading</th>
</tr>
</tbody>

<tbody>
<tr>
<th>Cargo release order</th>
</tr>
</tbody>

<tbody>
<tr>
<th>Certificate of origin</th>
</tr>
</tbody>

<tbody>
<tr>
<th>Commercial invoice</th>
</tr>
</tbody>

<tbody>
<tr>
<th>Customs import declaration</th>
</tr>
</tbody>

<tbody>
<tr>
<th>Insurance certificate</th>
 </tr>
</tbody>

<tbody>
<tr>
<th>Packing list</th>
</tr>
</tbody>

<tbody>
<tr>
<th>Terminal handling receipts</th>
</tr>
</tbody>

<tbody>
<tr>
<th></th>
</tr>
</tbody>

</table>

</div>
</div>
<!-- TimeMotion Info End -->

<div class="footnotes">

</div>
<!-- Economy Header End -->
<div class="page-break"></div>

<!-- Topic Info Begin -->

<div class="category-title">
<h2> Enforcing Contracts</h2>

</div>

<table cellspacing="0" class="rankings-inline">

<tr>
<th>DB 2011&nbsp;Rank</th>
<td>155</td>

<th>DB 2010&nbsp;Rank</th>
<td>156</td>

<th>Change in Rank</th>
<td class="rank-up">
<img src="/App_Themes/css/images/icons/rank-up-7x7.png" alt="up"
width="7" height="7" />1
</td>
</tr>
</table>

<div class="table-wrap nohover">

<table cellspacing="0">
<thead>
<tr>
<th class="caption">Indicator</th>
<th class="center">Pakistan</th>
<th class="center">South Asia</th>
<th class="center">OECD</th>
</tr>
</thead>

<tbody>
<tr>
<th class="moreinfo">
<div>

<a href="javascript://">
Procedures (number)
</a>
</div>
</th>
<td class="right">47</td>
<td class="zebra right">43.5</td>
<td class="right">31.2</td>
</tr>
</tbody>

<tbody>
<tr>
<th class="moreinfo">
<div>

<a href="javascript://">
Time (days)
</a>
</div>
</th>
<td class="right">976</td>
<td class="zebra right">1,052.9</td>
<td class="right">517.5</td>
</tr>
</tbody>

<tbody>
<tr>
<th class="moreinfo">
<div>

<a href="javascript://">
Cost (% of claim)
</a>
</div>
</th>
<td class="right">23.8</td>
<td class="zebra right">27.2</td>
<td class="right">19.2</td>
</tr>
</tbody>

</table>
 </div>

<!-- TimeMotion Info Begin -->

<div class="table-wrap procedures enforcing-contracts">

<table cellspacing="0">
<thead>
<tr>
<th>
Nature of Procedure
</th>
<th class="center">
Indicator
</th>
</tr>
</thead>

<tbody>
<tr>
<td class="header">
Procedures (number)

</td>
<td class="right">
47
</td>
</tr>
</tbody>

<tbody>
<tr>
<td class="header">
Time (days)

</td>
<td class="right">
976
</td>
</tr>
</tbody>

<tbody>
<tr>
<th class="subheader">
Filing and service

</th>
<th class="right">
96
</th>
</tr>
</tbody>

<tbody>
<tr>
<th class="subheader">
Trial and judgment
 </th>
<th class="right">
580
</th>
</tr>
</tbody>

<tbody>
<tr>
<th class="subheader">
Enforcement of judgment

</th>
<th class="right">
300
</th>
</tr>
</tbody>

<tbody>
<tr>
<td class="header">
Cost (% of claim)

</td>
<td class="right">
23.8
</td>
</tr>
</tbody>

<tbody>
<tr>
<th class="subheader">
Attorney cost (% of claim)

</th>
<th class="right">
16.7
</th>
</tr>
</tbody>

<tbody>
<tr>
<th class="subheader">
Court cost (% of claim)

</th>
<th class="right">
5.9
</th>
</tr>
</tbody>

<tbody>
<tr>
<th class="subheader">
 Enforcement Cost (% of claim)

</th>
<th class="right">
1.2
</th>
</tr>
</tbody>

</table>

</div>

<!-- TimeMotion Info End -->

<div class="footnotes">

</div>
<!-- Economy Header End -->
<div class="page-break"></div>

<!-- Topic Info Begin -->

<div class="category-title">
<h2> Closing a Business</h2>

</div>

<table cellspacing="0" class="rankings-inline">

<tr>
<th>DB 2011&nbsp;Rank</th>
<td>67</td>

<th>DB 2010&nbsp;Rank</th>
<td>56</td>

<th>Change in Rank</th>
<td class="rank-down">
<img src="/App_Themes/css/images/icons/rank-down-7x7.png"
alt="down" width="7" height="7" />-11
</td>
</tr>
</table>

<div class="table-wrap nohover">

<table cellspacing="0">
<thead>
<tr>
<th class="caption">Indicator</th>
<th class="center">Pakistan</th>
<th class="center">South Asia</th>
<th class="center">OECD</th>
</tr>
</thead>

<tbody>
<tr>
 <th class="moreinfo">
<div>

<a href="javascript://">
Recovery rate (cents on the dollar)
</a>
</div>
</th>
<td class="right">36.5</td>
<td class="zebra right">28.0</td>
<td class="right">69.1</td>
</tr>
</tbody>

<tbody>
<tr>
<th class="moreinfo">
<div>

<a href="javascript://">
Time (years)
</a>
</div>
</th>
<td class="right">2.8</td>
<td class="zebra right">4.5</td>
<td class="right">1.7</td>
</tr>
</tbody>

<tbody>
<tr>
<th class="moreinfo">
<div>

<a href="javascript://">
Cost (% of estate)
</a>
</div>
</th>
<td class="right">4</td>
<td class="zebra right">6.5</td>
<td class="right">9.1</td>
</tr>
</tbody>

</table>

</div>

<div class="footnotes">

</div>
<!-- Economy Header End -->
<div class="page-break"></div>