The Cabinet Committee on Regulatory Reforms (CCoRR), chaired by Federal Minister for Investment Qaiser Ahmed Sheikh, on Friday approved the third quarterly Regulatory Reform Package prepared by the Board of Investment (BOI), advancing the government’s agenda to modernise Pakistan’s regulatory framework.
According to an official statement, the package sets a forward-looking plan to improve transparency, streamline procedures, and enhance the ease of doing business.
Key initiatives include the Regulatory Governance Strategy 2025–2030, creation of a Pakistan National Legal Registry (PLR), and the shift from fragmented district registries to a centralised National Business Registry managed by the Securities and Exchange Commission of Pakistan (SECP).
This reform will repeal the outdated Partnership Act, 1932, and eliminate duplication across district registries, allowing faster firm registration and nationwide recognition of legal status.
The package also proposes simplification of bank account opening for businesses, including online onboarding for low-risk firms and the launch of an Asaan Business Bank Account (ABA) for SMEs.
A new risk-based, technology-enabled framework for security clearance of foreign investors was introduced, with statutory timelines to improve predictability and reduce delays.
Updates to the Companies Act, 2017, were also endorsed, focusing on modernising requirements for listed and unlisted companies, removing outdated provisions, and aligning corporate governance with international best practices. The reforms are expected to reduce compliance costs and strengthen oversight.
The committee reviewed all proposals in detail and directed federal ministries and departments to ensure time-bound implementation.
Federal Minister Qaiser Ahmed Sheikh commended the BOI reform team and regulators, emphasizing that the package reflects the government’s commitment to creating a transparent, efficient, and investor-friendly business environment in Pakistan.
