Advisor to Prime Minister on Commerce and Investment, Abdul Razak Dawood, chaired a strategy meeting to review progress on the Pakistan Regulatory Modernization Initiative (PRMI) in Board of Investment on Friday.
Advisor to PM on Institutional Reforms, Dr. Ishrat Hussain, Chairman Board of Investment, Atif Riaz Bokhari, Secretary Commerce, Secretary BOI, and senior officers from BOI and FBR attended the meeting.
During the meeting, Chairman BOI shared the progress on different initiatives being undertaken under the umbrella of PRMI, including mapping various regulatory requirements, regulatory guillotine, and licensing small businesses at the local government level.
BOI further shared the developments on Pakistan Business Portal, a part of Pakistan Goes Global Project, which is an online portal that will allow all types of businesses to find relevant regulatory requirements, submit their application online and electronically pay the relevant fees.
Appreciating the efforts being undertaken by BOI to pursue these reforms, Razak Dawood said that the government aims to provide a business-friendly and hassle-free environment to invite more domestic as well as foreign investment from the business community.
Razak Dawood also stressed the need to take the business community on board for meaningful dialogue in order to meet the intended goals of the project.
Advisor Commerce commended the KP Government for removing unnecessary local government registration, licenses, and NOCs, and said that other provinces should follow in their footsteps. However, Mr. Dawood noted that there is a need to pursue an aggressive communication and advocacy campaign to highlight such success stories.
Discussing the issues pertaining to FBR, Razak Dawood advised them to come up with a plan to facilitate businesses, with respect to customs issues on ports. The chairperson asked the BOI to build capacity and ensure the hand holding of small provinces and regions for the effective launching of similar regulatory reforms process in their areas.
Dawood directed to hold the next meeting of the Steering Committee of PRMI in the last week of June 2020.
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