ISLAMABAD – Prime Minister Imran Khan has directed Board of Investment forearly completion of consultation process with the relevant stakeholders forstreamlining and simplifying laws and regulatory framework related tobusiness in various sectors of economy.
In a meeting on removing regulatory hurdles in Islamabad on Wednesday, thePrime Minister also directed that the process of “guillotining” unnecessaryregulations should be completed as soon as possible so to improve ease ofdoing business and facilitate business community .
Chairman BOI Zubair Gilani briefed the meeting that an extensivestakeholders’ consultation process is underway for removing hurdles in easeof doing business.
He said this process involves elimination of irrelevant or obsoleteregulations, review of existing regulatory framework and amendment inexisting laws.
The Prime Minister directed that special attention should be paid towardspromoting digital economy and offering digital solutions to the start-upenabling them to capitalize their potential in IT sector.
Imran Khan said automation of the regulatory procedure and onlineavailability of required information will help businesses in smoothoperations.
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It was further informed that a digital “Business Regulatory Mapping Portal”has been designed to ensure transparency and accuracy in businesstransactions through E-Commerce.
The Prime Minister was informed by Minister Industries Punjab Mian AslamIqbal that the Government of Punjab has undertaken a number of initiativesto facilitate businesses including unifying taxes, eliminating inspections,offering one window facilitation and introducing Punjab Smart RegulationAct.
He was informed that as per his directions, Petroleum, Housing and Works,Power Division and BOI will soon be presenting plans regarding removal ofunnecessary regulatory hurdles in their respective divisions.
The Prime Minister directed that all other divisions should come up withsimilar plans and present for approval and implementation.
