ISLAMABAD: The Cabinet Committee on Regulatory Reforms has finalised the first set of reforms aimed at reducing regulatory compliance burdens and improving the ease of doing business in Pakistan.
Chaired by Minister for Investment Qaiser Ahmed Sheikh on Thursday, the committee reviewed 136 reform proposals submitted by the Board of Investment (BoI) across three meetings. Out of these, 104 proposals were approved for implementation.
According to a BoI press release, the approved reforms include the elimination of 19 redundant regulatory requirements and the streamlining of 57 procedural steps through digitalisation and simplification, aimed at improving transparency and service delivery.
Once implemented, these reforms are expected to lower costs, shorten approval timelines, and foster a more business-friendly regulatory environment.
The reform package, developed under the supervision of the BoI’s reform team, focused on two main areas: streamlining federal-level registrations, licenses, certificates, and other permits (RLCOs), and modernising the Companies Act 2017 for unlisted companies.
The committee has directed relevant federal ministries and departments to implement the approved reforms within 90 days, depending on the complexity of each measure. The BoI will oversee the implementation and provide regular updates to the cabinet committee on progress.
Additional reform packages are also being developed, targeting key sectors of the economy. These measures will further ease regulatory compliance, encouraging businesses to invest and compete more effectively in both domestic and international markets.
The successful completion of this review process signals the government’s commitment to modernising the regulatory framework and promoting a conducive business environment, according to the BoI.
Minister Sheikh commended the BoI reform team for their efforts and recognised the role of regulatory bodies in advancing the national reform agenda. He called the meetings a significant step in the government’s drive to simplify and modernise Pakistan’s regulatory framework in line with the prime minister’s directives.
