Punjab CM announces establishment of ‘Business Facilitation Centre’

KARACHI: In a significant development aimed at bolstering the industrial sector and economic stability, Chief Minister of Punjab, Mohsin Naqvi, announced the establishment of a Business Facilitation Center in the province.

The announcement came following a meeting with prominent industry figures, including Patron-in-Chief of the Korangi Association of Trade and Industry (KATI), Caretaker Minister of Industry and Trade, SM Tanveer, and the President of the Pakistan Business Group (PBGO), Faraz-ur-Rehman.

According to KATI, the meeting, which took place on Monday, marks a pivotal step in Punjab’s commitment to supporting industrialists, fostering small and medium enterprises, and promoting agricultural development and food security.

Chief Minister Naqvi revealed that the Business Facilitation Center is scheduled to commence operations on December 1, offering a one-stop solution for industrialists, streamlining services that were previously spread across multiple institutions. This modern facility is anticipated to provide a wide range of services all under one roof.

SM Tanveer, KATI’s Patron-in-Chief and Caretaker Minister of Industry and Trade for Punjab, underscored the government’s critical role in advancing industrialization and economic improvement. He stressed the importance of collaborative efforts with stakeholders to enhance economic stability and provide top-notch facilities to industrialists and investors, not only in Punjab but also across the country. SM Tanveer expressed his desire for a unified, one-window facility available to industrialists nationwide.

Faraz-ur-Rehman, President of KATI and Founder President of the Pakistan Business Group (PBGO), welcomed the announcement of the Business Facilitation Center, deeming it a significant stride toward economic stability. He highlighted the center’s potential to deliver timely, international standard services from various institutions, thereby saving valuable time and reducing capital expenditures for industrialists.

Moreover, Faraz-ur-Rehman encouraged other provinces to adopt a similar system to facilitate business communities efficiently, citing the need to streamline administrative and legal processes, which have been a deterrent to investors and industrialists in Pakistan.

While acknowledging the introduction of the Pakistan Single Window system, Faraz-ur-Rehman expressed concerns about its delayed implementation and the insufficient facilities provided to the business community.

He expressed optimism that Punjab’s Business Facilitation Center would mitigate the hardships faced by the business community, providing prompt and uninterrupted services, ultimately boosting investments and stabilizing the economy.

The Business Facilitation Center’s launch in Punjab signifies a positive step toward fostering economic growth and stability, with the potential to inspire similar initiatives across the country.

Copyright Business Recorder, 2023