The government is finalising a comprehensive reform package aimed at boosting investor confidence and improving the ease of doing business, with measures covering venture capital, foreign exchange policies, and double taxation, Special Assistant to the Prime Minister on Industries and Production Haroon Akhtar Khan said on Tuesday.
Speaking at a meeting with Scott Jacob and a delegation of the Board of Investment (BOI), Khan highlighted that restoring trust in the Pakistan Stock Exchange (PSX) is critical to tackling structural challenges, including insider trading.
He said the Securities and Exchange Commission of Pakistan (SECP) and BOI would soon complete work on new regulations for unlisted companies, while rules for listed firms would also be reviewed on priority. Regulations for listed companies, he stressed, should be benchmarked on the least regulated models to enhance competitiveness.
Khan added that amendments to the Companies Act, reforms in licensing procedures, and the abolition of unnecessary no-objection certificates (NOCs) were in progress. He further announced that a bill to decriminalise business laws would soon be presented in Parliament.
On foreign exchange reforms, the SAPM said consultations will be held with the State Bank of Pakistan and the Pakistan Business Association as part of the upcoming reform package. Steps to address double taxation are also expected to be included.
He underscored the importance of promoting venture capital through dedicated legislation, noting that parallel work was already underway on both the Companies Act and regulations governing listed firms.
