Caretaker Minister of Planning Development and Special Initiatives Muhammad Sami Saeed has reiterated that the interim government is committed to providing avenues for the ease of doing business in the country.
The minister made these remarks while chairing a “Sub-Committee on Proposed Law of Pakistan Business Portal” to promote the ease of doing business in the country. The meeting was attended by the Secretary Ministry of Finance, Secretary Board of Investment (BOI), Joint Secretary Ministry of Commerce, Senior Joint Secretary Power Division, and representatives from the Law Division were also present at the occasion.
The digitalization of regulatory bodies for the ease of doing business is the priority of the government, the minister said, while directing the relevant ministries to ensure the complete facilitation for the ease of doing business in the country.
During the meeting, the Board of Investment (BOI) representatives gave a detailed briefing while highlighting the key features of the proposed law. The law provides a legal mandate for establishing a registry to map regulations prescribed by government departments and then empirically assess the need for these regulations through global best practices necessary to attract, realize, and retain investments with an aim to eliminate unnecessary regulations, and simplify and automate cumbersome procedures.
The BOI representatives informed the meeting that the implementation of this law will have several benefits for the economy, including increased investment, job creation, and economic growth. It will also help improve our competitiveness in the global market and attract foreign investors who are looking for a stable and predictable regulatory environment.
The Sub Committee has geared up its efforts for creating an enabling environment to facilitate the ease of doing business in the country, said the minister. He directed the relevant stakeholders to ensure the digitalization of the regulatory bodies in order to facilitate the ease of doing business and new startups in the country.
Source: Pro Pakistani