ISLAMABAD: Prime Minister’s Adviser on Commerce and Investment Abdul Razak Dawood on Wednesday reviewed progress and implementation of regulatory reforms by provinces to ensure the Ease of Doing Business (EODB) in the industrial sector.
The adviser also briefed on the regulatory guillotine activity under National Coordination Committee (NCC) on Small and Medium Enterprises (SMEs), said a press release issued by Board of Investment (BOI) here.
The fifth steering committee meeting on Pakistan Regulatory Modernization Initiative (PRMI) was held under the chairmanship of Abdul Razak Dawood at the BOI, reported APP.
PM’s adviser on Institutional Reforms and Austerity Dr Ishrat Hussain, BOI Chairman Atif Bokhari, secretary of Industries and Production, an FBR member, provincial secretaries of Punjab, Sindh and Balochistan and Pakistan’s international development partners World Bank and the British High Commission among other stakeholders attended the meeting in person and virtually.
The adviser expressed satisfaction with performance and recommended a reservoir of implemented reforms be formulated.
Ishrat Hussain highlighted the need to follow a strategy that prioritises identifications of high-impact regulations to acquire visible benefits for the business community.
While BOI Additional Secretary Mukarram Jah Ansari briefed the body on the subject of PRMI Strategy Document. He said that multiple consultation sessions have been held with public, private sector and international development partners for review in terms of changes and improvements.
He appraised the forum on the status of regulatory mapping, which as of now stands at 1400 regulations. Ansari stated that mapping is an ongoing exercise and a repository of the mapped regulations is available on the PRMI website.
As for the regulatory guillotine, Mukarram shared that BOI has formally started its implementation parallel to the PRMI. The BOI has identified over 200 issues being faced by the business fraternity at the federal and provincial levels, he informed.
The vetting of the shared issues has been initiated.
The representatives of KP, Sindh, Punjab, Balochistan and AJK shared progress reviews of their respective provinces pertaining to the implementation of reforms to promote market-led economy.
The committee has approved the PRMI Strategy Document for publication.
The chairman of BOI also acknowledged the efforts of the stakeholders and reaffirmed commitment to improving the business climate of the country through continued regulatory reforms.