Prime Minister Shehbaz Sharif has called for stronger regulatory reforms to improve Pakistan’s business environment and attract more domestic and foreign investment. He chaired a meeting on regulatory reforms in Islamabad.
The prime minister directed officials to remove unnecessary regulations and make the system more transparent and business-friendly. He also called for similar reforms across regulatory institutions following changes at the Drug Regulatory Authority of Pakistan (DRAP).
New Regulatory Registry Planned
Shehbaz Sharif ordered the creation of a comprehensive regulatory registry. The system will bring existing regulatory requirements, rules and regulations under one framework.
In addition, he directed nationwide implementation of the Ease of Doing Business Act. The move aims to create greater consistency in business regulations and facilities across provinces.
Third-Party Review of Reforms
The prime minister also called for independent third-party validation of the reforms. This assessment will examine whether the measures are producing their intended results.
He stressed that regulatory changes must deliver tangible benefits for businesses rather than remain limited to policy announcements.
557 Reforms Approved
Officials told the meeting that the Cabinet’s Regulatory Reforms Committee has approved 557 reforms across seven multi-sector areas.
According to the briefing, these reforms are expected to generate annual savings of Rs460 billion. The government is also simplifying the Export Policy Order and Import Policy Order.
SIFC to Coordinate With Provinces
Shehbaz Sharif directed the Special Investment Facilitation Council (SIFC) to improve communication about the reforms. The council will also work with the private sector to ensure businesses can use the available facilities.
Furthermore, an SIFC delegation led by Adviser on Industries Haroon Akhtar Khan will visit the provinces. The delegation will coordinate with provincial governments to improve consistency in business facilitation.
eBiz Punjab and Islamabad BFC Integration
The prime minister directed the SIFC and Punjab chief secretary to complete the integration of eBiz Punjab and the Islamabad Business Facilitation Centre by March 2027.
Meanwhile, officials said Business Facilitation Centres had received 8,717 applications, with 71% completed. The Islamabad centre has also provided facilities to 4,612 new businesses.
Focus on Investment and Business Growth
Shehbaz Sharif said Pakistan cannot achieve its domestic and foreign investment targets without a convenient and predictable business environment.
The government is therefore pursuing regulatory, policy governance and institutional reforms through the SIFC. The broader objective is to reduce unnecessary hurdles and improve business facilitation across the country.
Read More Articles:
Pakistan Begins SCO Chairmanship in Islamabad
