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June 25, 2019

PM okays body to help ease doing business

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June 25, 2019

ISLAMABAD: Prime Minister Imran Khan on Monday approved the establishment of a “steering committee” on Pakistan Regulatory Modernisation Initiative (PRMI) to ease the process of registration of businesses by simplifying its various stages — including registration, permit and no-objection certificates.

The Prime Minister took the decision while chairing a meeting on PRMI here at the PM Office. The committee will work under the supervision of PM’s advisers on Establishment and Commerce Shehzad Arbab and Abdul Razzak Dawood, respectively.

The committee members include secretary Commerce, chairman Federal Board of Revenue (FBR), chairman Stock Exchange of Pakistan, chairman Board of Investment, president Federation of Pakistan Chambers of Commerce and Industry, presidents of Chambers of Commerce of Lahore, Karachi and Faisalabad, and representatives of Pakistan Business Council.

Prime Minister Khan said the requirement of NOCs and lack of automation process had affected the small and medium size businesses. He said the difficult process also paved way for corruption, besides discouraging foreign investment.

Terming PRMI an important part of the government’s reforms agenda, he said bringing improvement in the regulatory process was meant to facilitate the business community.Briefing the meeting on PRMI, PM’s Adviser Arbab said the initiative has been taken for the very first time in the country’s history with consultation from provinces, which would ensure mapping, rationalisation, modernisation and automation. It will not only check corruption but would also facilitate business community by promoting automation, he added.

The meeting was also attended by PM’s Adviser on Finance Dr Abdul Hafeez Sheikh, Special Assistant on Information Dr Firdous Ashiq Awan, Special Assistant Yousaf Baig Mirza and Chairman Federal Board of Revenue Shabbar Zaidi.

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