PM Khan directs to simplify laws, process for facilitating businessmen
Last updated on: 29 August,2019 10:07 am
Zubair Gilani briefed the meeting that an extensive stakeholders' consultation process was underway.
ISLAMABAD (Web Desk) – Prime Minister (PM) Imran Khan on Wednesday directed the Board of Investment (BoI) for early completion of consultation process with the relevant stakeholders for streamlining and simplifying laws and regulatory framework related to business in various sectors of economy.
In a meeting on removing regulatory hurdles in Islamabad, the premier directed to accelerate the process of "guillotining" unnecessary regulations for improving business environment and facilitating businessmen.
BoI Chairman Zubair Gilani briefed the meeting that an extensive stakeholders’ consultation process was underway for removing hurdles in ease of doing business.
He said the process involved elimination of irrelevant or obsolete regulations, review of existing regulatory framework and amendment in existing laws.
The PM directed that special attention should be paid towards promoting digital economy and offering digital solutions to the start-up enabling them to capitalise their potential in information technology (IT) sector.
Khan said automation of the regulatory procedure and online availability of required information would help businesses in smooth operations.
It was further informed that a digital "Business Regulatory Mapping Portal" has been designed to ensure transparency and accuracy in business transactions through E-Commerce.
Provincial Minister of Punjab for Information and Culture Mian Muhammad Aslam Iqbal apprised the premier that the provincial government has undertaken a number of initiatives to facilitate businesses including unifying taxes, eliminating inspections, offering one window facilitation and introducing Punjab Smart Regulation Act.
He was informed that as per his directions, Petroleum, Housing and Works, Power Division and BoI would soon present plans about the removal of unnecessary regulatory hurdles in their respective divisions.
The PM directed that all other divisions should come up with similar plans and present for approval and implementation.