ISLAMABAD – The Cabinet Committee on Regulatory Reforms (CCoRR) has approved 104 out of the 136 proposed regulatory reforms as part of Reform Package-01, following its review. The approved reforms include the removal of 19 redundant requirements and the simplification of 57 procedures through digitalisation and modernisation, all aimed at boosting transparency and improving service delivery.
These measures, once implemented, are expected to reduce approval timelines, cut costs, and create a more business-friendly regulatory environment. The reforms, which were prepared by the Board of Investment (BOI), align with the Prime Minister’s directives to reduce the compliance burden and enhance the ease of doing business in Pakistan.
The reform package focuses on streamlining federal-level Registrations, Licenses, Certificates, and Other Permits (RLCOs), as well as modernising the Companies Act, 2017, for unlisted companies. Chaired by Federal Minister for Investment Qaiser Ahmed Sheikh, the committee held three meetings to evaluate and finalise the reforms.
A sub-committee led by Mr. Haroon Akhtar Khan, Special Assistant to the Prime Minister for Industries and Production, will oversee stakeholder consultations on the Companies Act in coordination with the Securities and Exchange Commission of Pakistan (SECP) and other relevant bodies.
The committee has set a 90-day timeline for ministries and departments to implement the approved reforms, depending on their complexity. The BOI will continue to monitor progress and report back to the committee.
Further reform packages are also in development, aiming to reduce compliance burdens across various sectors to help businesses grow and compete more effectively. The Federal Minister for Investment praised the BOI reform team and regulatory bodies for their role in advancing the national reform agenda, underscoring the government’s commitment to regulatory modernization and fostering a conducive environment for investment and economic growth in Pakistan.
