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ISLAMABAD: Federal Minister for Investment Board, Privatization and Communications Abdul Aleem Khan presiding over a high-level meeting held on "Ease of Doing Business" organised by the Board of Investment (BOI) on Thursday.

Federal Finance Minister Muhammad Aurangzeb, Federal Commerce Minister Jam Kamal Khan and Prime Minister's Advisor Rana Ehsan Afzal, besides federal secretaries and the SECP chairman, were also present.

Meanwhile, a video link meeting was held between Aleem Khan and the Investment Consul of China, Lei, in which they discussed the current volume of trade between Pakistan and China and the possibility of increasing it.

Aleem said that apart from bilateral trade in the region, China and Pakistan can help each other in the field of trade and especially through China-Pakistan Economic Corridor (CPEC) can play an important role in this regard.

He further said that for the promotion of business and new investment in the country, a coordinated and integrated system would be evolved with the cooperation of the provinces so that protection to the investors could be ensured.

He added that consultation with the provinces will be done for legislation to be enacted at the provincial level so that the investors can get a more satisfactory environment. Moreover, all four provinces and their chief ministers will also be taken into confidence in this regard. This was expressed by Aleem Khan.

He maintained that Ease of Doing Business will provide a clear roadmap for the promotion of business in the country while its related proposals, legislation and other important issues will be finalised soon.

He further said that the proposed investment and business promotion projects along with the timeline will be submitted to the prime minister for final approval.

The federal minister pointed out that it is our first responsibility to remove the defects of the existing system, institutions and procedures for which work has already been started rapidly in the right direction.

He said that the business community should be facilitated on the pattern of developed countries for which problems being faced, particularly those in Special Economic Zones will be removed on a priority basis.

The federal minister further said that now we have to adopt modern methods and increase the growth rate while in this regard hurdles should be removed avoiding routine style.

In the meeting, the federal ministers expressed their satisfaction over the process on “Ease of Doing Business” and termed it as a right initiative at the right time.

Senior officers of various federal and provincial departments gave a briefing on their relevant issues and assured their immediate response as and when required.

Copyright Business Recorder, 2024

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