PM directs to simplify procedure for investment in country
Prime Minister Imran Khan has directed preparation of a comprehensive plan to simplify procedures related to government approvals, addressing taxation issues, dispute resolution and facilitating investors and businesses.
He was chairing a high level meeting to review progress on improving ease of doing business and creating an enabling environment to facilitate conversion of interest of the local as well foreign investors into actual investments in the country.
Chairman Board of Investment Haroon Sharif briefed the meeting that efforts are being to revive confidence of the private sector in government policies and put in place a framework that facilitates business community in its business pursuits.
The Chairman said BOI acts as agent of change to facilitating business transactions, removing impediments in way to materialization of investors’ interest into actual investments and smooth functioning of the businesses in the country.
He also briefed the Prime Minister about various issues being faced by the business community including taxation, access to finance, regulation and policy issues and red-tapism.
Haroon Sharif said BOI is also actively working with the provinces and relevant ministries for removing barriers in the way of establishing Special Economic Zones.
He also informed the Prime Minister about Naya Pakistan Diaspora Fund which is being set-up to promote SMEs and rural development in key areas of education, health and infrastructure development.
He apprised the Prime Minister of the Investment Framework which has been structured for attracting and materializing investment from UAE, Saudi Arabia, China, Japan and Malaysia.
It was decided during the meeting that Prime Minister would chair a review meeting every month on Ease of Doing Business in the country.