Razak hails progress in regulatory reforms through PRMI

ISLAMABAD: The Adviser to the Prime Minister on Commerce and Investment, Abdul Razak Dawood on Monday appreciated the progress made by Board of Investment (BOI) in provinces and regions reforms regarding Pakistan Regulatory Modernization Initiative (PRMI).

The adviser said this while chairing the 4th meeting of the Steering Committee on Pakistan Regulatory Modernization Initiative (PRMI), in the Board of Investment (BOI), said a press release issued by Ministry of Commerce here.

Highlighting the role of business community in regulatory reforms, he requested business community / Chambers to work in close liaison with the BOI and provincial governments and play their role in Regulatory Modernization in the country, Razak Dawood emphasized that with regulatory modernization, carrying out business in the country will be simplified resulting in inflow of investment resulting in growth and employment generation.

The Adviser to PM on Institutional Reforms, Secretary Commerce, Secretary BOI, delegates from provinces and regions, representatives of private sector and Pakistan’s international development partners (World Bank, DFID and JICA) attended the meeting (in person and through videoconferencing).

Secretary, BOI Ms. Fareena Mazhar, shared the progress since the previous meeting of Steering Committee while the delegates from provinces and regions briefed the Steering Committee about reforms undertaken by them and their initiatives on regulatory modernization.

Secretary BOI Ms. FareenaMazhar, while concluding the session acknowledged the efforts of all stakeholders and stated that federal and provincial Governments are determined to improve the business environment in the country.

She expressed her gratitude to all stakeholders for their support for BOI in PRMI project. Additional Secretary, BOI Mukarram Jah Ansari, appraised the forum that BOI has created a digital platform for PRMI.

He gave a detailed review of the website on PRMI which included a library of all documents and records, progress made and future programmes, a digital catalog of mapping exercise undertaken by BOI and World Bank consultants, issues highlighted by Chambers of Commerce regarding impediments being faced by Businesses and a feedback mechanism.

He briefed that this digital platform is open for all, including Govt Departments and Businessmen who can provide feedback, highlight any discrepancy in mapping, and also approach BOI to highlight sector specific issues.