BoI successfully hosts ‘National Regulatory Reforms Conference’

ISLAMABAD: The Board of Investment (BoI), Prime Minister’s Office, successfully hosted the National Regulatory Reforms Conference 2025 under the theme “Enabling Business, Empowering Pakistan.”

The conference brought together an esteemed gathering of federal ministers, government officials, regulatory authorities, international experts, development partners, and representatives from the private sector and academia to deliberate on Pakistan’s evolving regulatory landscape and chart out a dynamic roadmap for future reforms.

In her welcome remarks, Ambreen Iftikhar, additional secretary BOI emphasised that regulatory reforms cannot be the government’s responsibility alone. A coordinated, inclusive, and consultative approach—bringing together businesses, regulators, academia, and development partners—is essential.

She highlighted key reform initiatives under the Pakistan Regulatory Modernization Initiative (PRMI), projects like SMART and DEEP, Regulatory Guillotine and the Pakistan Business Portal (PBP)—all aimed at simplifying the regulatory environment and reducing business compliance costs.

In his keynote address, Qaiser Ahmed Sheikh, Federal Minister for Investment candidly reflected on the challenges facing Pakistani businesses. He stressed the need for robust joint ventures and shared successful examples of his own collaboration with Korean and Malaysian firms. He called for a more efficient one-window operation and emphasised that Pakistan has the potential to compete globally—provided regulatory inefficiencies are addressed.

Haroon Akhtar Khan, Special Assistant to the Prime Minister Ministry of Industries and Production emphasised the need for a policy mix that bridges academic insights with ground realities. He pointed to high power tariffs, tax rates, and lack of investor confidence as key challenges. He urged for reforms that support domestic industries and boost exports, noting that Pakistan’s resilient business community must be at the heart of sustainable economic revival.

Rana Ihsaan Afzal Khan, Coordinator to the Prime Minister on Commerce, discussed Pakistan’s structural economic constraints, particularly the boom-bust cycles caused by current account deficits. He advocated for an export-oriented economy, rationalisation of tariffs, and a transparent customs regime to build long-term economic stability.

Dr Jehanzaib Khan, secretary of the SIFC Apex Committee, called for a more balanced regulatory approach. He proposed third-party inspections, regulatory quality system and quality checks to replace overly punitive regulatory measures.

International expert Scott Jacobs acknowledged Pakistan’s progress and underlined the importance of a principle-based, sequenced approach to regulatory reforms. He commended BOI and the SMART team for incorporating global best practices in reform implementation in line with global best practices.

A technical presentation by Ahmed Waqar, Director Reforms, BOI, detailed the journey “From Bottlenecks to Breakthroughs,” showcasing identification of paining RLCOs (regulatory licenses, certificates, and other obligations) and the development of short, medium, and long-term reform strategies.

Representing the private sector, Atif Akram Sheikh underscored the need for quarterly consultations, co-designed interventions, and mutual accountability to make Pakistan a country where doing business becomes a competitive advantage.

Representing development partners, Jo Moir, Development Director at the British High Commission, reaffirmed the UK’s support for Pakistan’s reform efforts. She cited REMIT’s ongoing technical assistance and highlighted Pakistan’s untapped economic potential, especially in youth and entrepreneurship. She urged continued momentum in regulatory reforms for investment promotion in the country.

Copyright Business Recorder, 2025