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June 30, 2020

‘Provinces must adopt pro-business initiatives’

Business

June 30, 2020

ISLAMABAD: Adviser to the Prime Minister on Commerce and Investment Razak Dawood on Monday emphasised provinces and regions to adopt business-friendly initiatives of each other and increase the pace of activities to ease business registration process.

Dawood appreciated the Khyber Pakhtunkhwa government on recent steps to simplify the licencing regime of local government. “These activities would not only facilitate the SME (small and medium enterprise) sector but also help the growth of business activities in a more transparent and efficient manner,” he said, addressing the third meeting of steering committee on Pakistan Regulatory Modernization Initiative (PRMI).

The adviser assured the businesses of the government considering their suggestions to ease business registration. The advices will be duly considered to ensure a meaningful review of the regulatory regime and introduction of consequential reforms, Dawood said.

Adviser to PM on Institutional Reforms Ishrat Husain, Board of Investment Chairman Atif Riaz Bokhari, secretary commerce, provincial representatives and other stakeholders from public and private sector attended the meeting.

The agenda of the meeting of steering committee was to review the progress on the decisions taken in the last meeting, discuss the developments regarding local government licencing regime by Punjab, Khyber Pakhtunkhwa and Islamabad capital territory, examine the steps undertaken by provinces on regulatory frameworks and get feedback from industry representatives on the regulatory impediments in different sectors.

The strategy on way forward with action plan and measurable milestones was also discussed in the meeting. “PRMI is a larger scale reform exercise being undertaken by the Government in order to ensure ease of doing business in a more effective manner,” said Dawood. “The reforms are focused around reduction of compliance burden of businesses on one hand while improving the effectiveness of regulatory regime on the other.”