Reducing cos compliance burdens: Cabinet panel suggests over 280 amendments

ISLAMABAD: The Cabinet Committee on Regulatory Reforms’ Sub-Committee has proposed more than 280 amendments aimed at reducing compliance burdens on private sector firms, along with simplifying outdated resolutions and approval requirements under the Companies Act, 2017.

This was revealed by Special Assistant to the Prime Minister Haroon Akhtar Khan during the launching ceremony of a Regimeter, a dedicated portal for monitoring of reforms, held at the Prime Minister’s House.

While providing an update on the work of the panel of the Cabinet Committee on Regulatory Reforms, the Special Advisor said that the substantial achievements include a comprehensive review of the Companies Act 2017, over 280 proposed amendments to reduce compliance burdens on private sector firms, and the simplification of outdated resolutions and approvals.

He reaffirmed that regulatory reform remains central to restoring Pakistan’s industrial competitiveness and unlocking investment potential.

The Prime Minister launched Regimeter for monitoring and sharing of regulatory reforms; calls it a quantum leap for improving the investment climate in Pakistan.

Govt panel proposes major changes to Companies Act 2017

The portal not only tracks the implementation of each regulatory reform endorsed by the Cabinet Committee on Regulatory Reforms but also provides a window for feedback for the private sector. The event was attended by the Deputy Prime Minister, federal ministers, representatives of the public and private sectors. The UK Minister of International Development, Baroness Jennifer Chapman, was also one of the key speakers at the event.

The Prime Minister emphasized that Pakistan must fully embrace digitization across all regulatory processes to compete globally. He also acknowledged the continued support of the United Kingdom through FCDO’s Revenue Mobilisation, Investment and Trade programme in advancing Pakistan’s reform agenda and strengthening institutional capacity.

During the ceremony, the Prime Minister appreciated the leadership of the Securities and Exchange Commission of Pakistan (SECP) and the Drug Regulatory Authority of Pakistan (DRAP) for taking the lead in regulatory modernization and transformation.

UK Minister for Development Jennifer Chapman mentioned that the United Kingdom highly values its partnership with Pakistan and assured its continued support for strengthening public institutions, improving regulatory quality, and economic development.

Copyright Business Recorder, 2025