PM issues guidelines to facilitate domestic, foreign investment

ISLAMABAD: Prime Minister Muhammad Nawaz Sharif Saturday issued guidelines to the administrative heads of all relevant divisions, attached departments and autonomous bodies aimed at facilitating the domestic and foreign investment in Pakistan.

According to a PM House statement, the prime minister directed all federal ministries and departments concerned to prepare a comprehensive code of procedure which would be followed by applicants and investors for license, sanction or permission for investment or setting up business in the country.

The prime minister directed that all such processes and transactions should be identified to streamline certifications, approvals, licenses, permits or similar instruments.

He said that all steps involved in the process should be clearly laid down so that investors should not face hindrances.

Nawaz Sharif also instructed to adhere to specific timeframes while processing the applications and the applicants should be informed at each stage of the process.

The ministries and relevant bodies had also been asked to make available the flow charts depicting the steps, timelines and documentation requirements for facilitation of the investors.

The prime minister also directed that the process devised for ease business should be notified for public information.