Islamabad: Prime Minister (PM) Imran Khan has issued instructions to the Board of Investment (BOI) to expedite the consultation proceedings with the stakeholders to simplify business laws and regulatory framework in various economic sectors, according to the news sources.
While chairing a meeting on Wednesday, he directed the board to eliminate unnecessary regulations, and facilitate businesses (especially startups) through improved ease of doing business.
As per the official press release, the PM stressed on paying special attention to the digital economy, and providing digital solutions to the startups to enable them to capitalise on their potential in the IT sector.
BOI Chairman Zubair Gilani revealed to the meeting that the extensive consultation process (that’s currently underway) will eliminate irrelevant or obsolete laws, and review the existing regulatory framework for necessary amendments.
To ensure transparency, accuracy and automation in business transactions through e-commerce, a digital Business Regulatory Mapping Portal has been devised, he added.
Provincial Minister for Industries Mian Aslam Iqbal offered that several initiatives to aid businesses have been implemented by the local government, including unifying taxes, eliminating inspections, one-window-solution and launch of Punjab Smart Regulation Act.
The meeting was also attended by Adviser to PM on Institutional Reforms Dr Ishrat Husain, Adviser to Prime Minister on Commerce Abdul Razak Dawood, the World Bank country director and other relevant officials.