ISLAMABAD: Minister of State and Chairman Board of Investment (BoI) Muhammad Azfar Ahsan along with Secretary BOI Fareena Mazhar and senior officers including Additional Secretary Mukarram Jah Ansari and Additional Secretary Khasheeur Rehman called on President Arif Alvi, here on Tuesday.
The BoI leadership briefed the president about the BoI’s working in detail and highlighted ongoing efforts to create a business-friendly environment in the country.
It was informed that 112 regulatory reforms have been implemented so far, involving 70 federal and provincial departments, which have benefited more than 20 economic activities of the private sector.
The chairman and the secretary BOI highlighted how these reforms have resulted in facilitation of small and medium businesses in the country.
It was informed that on the direction of the prime minister, the reforms process has been expanded across the country. This involves a review of business-related regulations, and eliminating unnecessary ones, while simplifying complex regulations through a consultative process.
The secretary informed that the reforms initiative has been branded as “Asaan Karobaar Program” and a dedicated portal to showcase reforms has been prepared.
The chairman BOI highlighted that the focus areas for these reforms include SME manufacturing units, startups, and exporters, while key sectors include food processing, health sector, solar energy businesses, surgical sector, construction and tourism, etc.
The chairman stressed that all these measures have enhanced the confidence of business community on reforms process and showcased Pakistan as an attractive destination for investment.
Resultantly, there is unprecedented growth in registration of new companies with the SECP, establishment of new enterprises in the SEZs, increase in exports, domestic investment, and credit to private sector.
The president appreciated the successful initiative being led by the BOI, and its role in helping drive Pakistan’s economy by offering maximum facilitation to the local and foreign investors to invest in the country.
He was of the view that all government departments should provide online services to businesses, particularly by creating one-window facility through web portals.
He assured of his patronage to the chairman BOI and his team for their efforts directed towards making Pakistan an investment destination of choice in the international market.
Copyright Business Recorder, 2022
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