ISLAMABAD: Prime Minister Imran Khan has emphasized the need for greater focus on addressing issues related to ease of doing business in Sindh, in view of Karachi’s importance as the financial hub of the country.
The PM on Wednesday chaired a meeting to review progress on improving the ease of doing business. It was decided during the meeting that regular ease of doing business meetings would be chaired by the PM in the presence of all chief ministers and provincial chief secretaries.
It was also decided that dedicated EoDB offices would be set up at federal and provincial levels for the purpose of removing bottlenecks and facilitating investors in the smooth business operations.
The Board of Investment chairman briefed the prime minister about progress on various indicators related to ease of doing business.
The meeting was informed that the number of tax payments has been brought down from 47 to 21, adding that efforts are underway to introduce e-payments of social security contributions in Sindh and Punjab.
Similarly, he said, efforts are also being made to improve risk management system to reduce the number of physical audits.
About the ease of starting a business, the prime minister was informed that integration of the Securities and Exchange Commission of Pakistan with provincial portals and Employees Old-Age Benefit Organisation (EOBI) has been completed in Punjab and efforts are underway to expedite the launch of a similar portal in Sindh.
On ease in getting electricity, the PM was informed that significant progress has been made to facilitate the provision of power and timely information to the businesses.
The meeting was also briefed about the steps being taken to facilitate trading across borders and reducing clearance time in imports and exports.
Briefing the meeting about various positive developments with regards to investment facilitation, it was informed that MoU on industrial cooperation has been signed with China last month.
The meeting was attended by Finance Minister Asad Umar, Advisor to Prime Minister on Commerce Abdul Razzak Dawood, Advisor to Prime Minister Dr Ishrat Hussain, and BOI Chairman Haroon Sharif.
Given the strategic importance of Karachi for the economy of the entire country, it’s perhaps an error to leave it to the whims of the Sindh government, whoever that may be. Karachi should granted a special city status, just like the capital city Islamabad, which is independent of Punjab. Karachi, being the economic capital, should be assigned separate from Sindh, and only then can the governance and administration issues of the city can hope to be tackled effectively. There are plenty of examples of this strategy being employed effectively, in Vietnam, South Korea, Philippines, among others.