Prime Minister Imran Khan has sought a comprehensive plan with suggestions to simplify procedures related to government approvals, taxation issues and dispute resolution mechanism with the objective to facilitate investors and businesses in the country. Chairing a high-level meeting to review progress on improving ease of doing business and creating an enabling environment to facilitate conversion of interest of the local as well as foreign investors into actual investments in the country, the Prime Minister was informed about various issues being faced by the business community including taxation, access to finance, regulation and policy issues, and red tapism.
The Prime Minister directed chairman Board of Investment (BoI) to present a comprehensive plan, listing all the issues in various sectors and their sub-sectors and how the processes could be streamlined to simplify procedures related to government approvals, addressing taxation issues and dispute resolution for facilitating investors/businesses.
The meeting also decided that the Prime Minister would chair a review meeting every month on ease of doing business in the country.
Chairman BoI Haroon Sharif while briefing the Prime Minister about the steps taken so far said that the BoI would be serving as agent of change for facilitating business transactions, removing impediments in way to materialisation of investors' interest into actual investments and smooth functioning of the businesses in the country.
Haroon Sharif further informed the Prime Minister that BoI is also actively working with the provinces and relevant ministries for removing barriers in the way of establishing Special Economic Zones.
He said that special efforts are being made to bridge the gap between private and public sectors and reach out to the private sector to revive their confidence in government policies and put in place a framework that facilitates business community in its business pursuits.
The chairman BOI also briefed the Prime Minister about Naya Pakistan Diaspora Fund which is being set up to promote SMEs and rural development in key areas of education, health and infrastructure development. He also apprised the Prime Minister of the investment framework which has been structured for attracting and materialising investment from the UAE, KSA, China, Japan and Malaysia.
The meeting was attended by Finance Minister Asad Umar, Law Minister Dr Farogh Naseem, Advisor on Commerce Abdul Razak Dawood, Chairman BoI Haroon Sharif, federal secretaries and senior officials.