SIFC, World Bank discuss business facilitation reforms

With a focus on streamlining regulations and easing business-government interaction, the Special Investment Facilitation Council (SIFC) held talks with a World Bank delegation on key reforms.

The meeting focused on the Asaan Karobar Framework, Regulatory Registry and Pakistan Business Portal, which are being pursued to simplify regulatory processes, improve coordination among relevant institutions, reduce compliance burden and make it easier for businesses to engage with government, read a statement from SIFC.

The Asaan Karobar Framework provides a structured approach towards simplifying business-related regulations and improving the overall ease of doing business.

The Regulatory Registry is aimed at creating greater clarity and accessibility regarding applicable regulatory requirements, while the Pakistan Business Portal is designed to facilitate businesses through a more coordinated and accessible interface with relevant government institutions.

The discussions also highlighted SIFC’s whole-of-government approach to business and investment facilitation, bringing together relevant federal, provincial and sectoral stakeholders to support coordinated implementation of reforms.

Engagement with provincial governments remains an important element of this approach, ensuring that business facilitation efforts are pursued through broader institutional coordination.

The World Bank delegation appreciated SIFC’s inclusive approach, particularly its engagement with provincial governments, and acknowledged the importance of coordinated efforts to improve the regulatory and business environment.

The World Bank also assured continued support for initiatives aimed at strengthening business facilitation and advancing regulatory improvements.

The initiatives are aimed at supporting entrepreneurship, investment and sustainable private-sector-led economic activity in Pakistan.