| Updated at: 1302 PST, Saturday, September 11, 2010|
ISLAMABAD: The World Economic Forum (WEF) has revised downward the Pakistan's global competitiveness ranking from 101 in the world to 123rd place among 139 nations.
Although continued security challenges, setbacks from the global economic downturn, continuing electricity shortages and mixed macroeconomic results combined to reduce Pakistan's score in WEF's annual Global Competitiveness Report, it also contained good news from the country's private sector, the Competitiveness Support Fund (CSF) said.
CSF is a joint initiative of the Ministry of Finance and the US Agency for International Development (USAID).
In the report, Pakistan's score dropped from 3.58 in 2009 to 3.50 this year. While this is a relatively modest decrease in numeric terms, it was sufficient to move Pakistan from 101st to 123rd place among 139 nations ranked by the WEF.
The annual Global Competitiveness Report is the most comprehensive competitiveness ranking of its kind and has been published annually for many years. The WEF gathers data from economic indicators and survey data and presents the results in 12 pillars that drive competitiveness.