PTI Government launches a new technology based initiative to promote business
The Government is in the process of launching the Pakistan Business Portal which will act as a virtual one-stop platform for businesses, the Board of Investment (BOI) Additional Secretary Mukarram Jah Ansari revealed this in a webinar.
This move has come as part of the BOI’s reform measures being carried out under the Pakistan Regulatory Modernisation Initiative (PMRI), which is aimed at improving the ease of doing business and facilitating investment and business activities in the country.
Ansari said that this portal will reduce compliance requirements and facilitate the growth of business activities all over the country. All business-related public sector organizations will be integrated with the Pakistan Business Portal so that the process of registration and licensing of firms could be relaxed.
He also said that once the reform measures are complete, “Pakistan will be included in the top 90 economies of the world with regard to ease of doing business”. The objective of PMRI is to reduce the compliance and cost burdens on the firms, which the Additional Secretary admitted being a major burden on Pakistani businesses.
550 business regulations were mapped for analysis, simplification, and elimination of unnecessary laws in process of building this portal.
Ansari said that all systems and procedures will be automated for the facilitation of the business community and, “Soon, there will be a single-window facility for registration of businesses that will be communicated to all relevant departments and organizations through an integrated system.”
Prior to this, BOI has already launched three portals including Electronic Joint Venture (EJV), Branch Liaison Management Information System (BLMIS) and Special Economic Zones (SEZs) Information Portal to digitize all services for the benefit of investors.