ISLAMABAD: Advisor to the Prime Minister on Commerce and Investment, Abdul Razak Dawood, chaired the fourth meeting of the Steering Committee on Pakistan Regulatory Modernization Initiative (PRMI), at the Board of Investment (BOI), on Monday.
The advisor to the PM on institutional reforms, secretary commerce, secretary BOI, delegates from provinces and regions, representatives of private sector, and Pakistan's international development partners (the World Bank, DFID, and JICA) attended the meeting (in person and through video-conferencing).
Fareena Mazhar, secretary BOI shared the progress since the previous meeting of the Steering Committee, while the delegates from the provinces and the regions briefed the Steering Committee about reforms undertaken by them, and their initiatives on regulatory modernisation.
Abdul Razak Dawood appreciated the progress made by the BOI and provinces/regions regarding PRMI. Highlighting the role of the business community in regulatory reforms, he requested business community/chambers to work in close liaison with the BOI and the provincial governments, and play their role in regulatory modernisation in the country.
He emphasised that with regulatory modernisation, carrying out business in the country would be simplified resulting in inflow of investment resulting in growth and employment generation. Mukarram Jah Ansari, additional secretary BOI apprised the forum that the BOI had created a digital platform for the PRMI.
He gave a detailed review of the website on the PRMI, which included a library of all documents and records, progress made and future programmes, a digital catalogue of mapping exercise undertaken by the BOI and the World Bank consultants, issues highlighted by the Chambers of Commerce regarding impediments being faced by businesses and a feedback mechanism.
He briefed that this digital platform was open for all, including government departments and businessmen who could provide feedback, highlight any discrepancy in mapping, and also approach the BOI to highlight sector-specific issues.
Fareena Mazhar, secretary BOI, while concluding the session, acknowledged the efforts of all the stakeholders, and stated that the federal and provincial governments were determined to improve the business environment in the country.
She expressed her gratitude to all the stakeholders for their support for the BOI in the PRMI project. Press release adds: The meeting attended by Dr Ishrat Hussain, Balochistan was represented by Farman Zarkoon, Chief Executive Officer of Balochistan Board of Investment and Trade (BBoIT), and by other officials.
Participants of the meeting appreciated the decision of the Balochistan Board of Investment and Trade (BBoIT) which is to set up an office in Islamabad and the proposed FATR in Karachi and Gwadar and said that it was a historic step and therefore, offices should be set up by other provinces to facilitate investors and reap the benefits of Gwadar Port.
Briefing the meeting about the ease of doing business and promotion of investment and trade activities in Balochistan, Farman Zarkoon said that for the first time in the history of the country, we are also opening a one-window physical facilitation centre which is aimed to attract the local investors and to facilitate those who do not have online access.
Farman Zarkoon further added that the Balochistan Board of Investment and trade under the leadership of Chief Minister Jam Kamal Khan Aliani has made progress on the ease of doing business and for the first time in the history of the province such an initiative has been taken.
The World Bank's standards for ease of doing business have also been considered. It is also important to note that the Balochistan Board of Investment has initiated the Ease of Doing Business (EODB) cell in a very short period of time and can be accessed through one window operation.
Copyright Business Recorder, 2020
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