BoI should simplify registration process for new businesses: minister

ISLAMABAD: Federal Minister for Board of Investment, Privatization and Communications Abdul Aleem Khan while presiding over a special meeting on Ease of Doing Business has directed that the Board of Investment should simplify the registration process for new businesses.

He added that it is vital to clarify the features of the Pakistan Business Portal which will soon be presented to the prime minister.

Federal Minister Abdul Aleem Khan further said that FBR and Security Exchange Commission should ensure online facilities at one window so that all relevant departments can facilitate the business community including registration for starting their new setup.

Abdul Aleem Khan said that it should be ensured that unnecessary rules and regulations hindering investment are removed so that the policy of accelerating investment can be implemented.

Federal Minister Abdul Aleem Khan directed the Board of Investment to keep in view the important models for the Pakistan Business Portal including other countries and emphasized to create a policy framework according to the current requirements apart from the traditional methods.

Federal Minister said that domestic and foreign investors should not be entangled in unnecessary formalities as the Ease of Doing Business model also aims at full cooperation by the FBR, the Securities and Exchange Commission and other departments to the investors.

Copyright Business Recorder, 2024