Pakistan is one of the few South Asian Countries which ranks high in the World Bank indicators of ease of doing business.
The pursuits of policies of liberalisation, deregulation, de-licensing and disinvestment during the last two decades have brought about significant improvements in domestic and foreign investments, Board of Investment (BoI) Secretary Iftikhar Babar said on Thursday.
Speaking at the Thought Leader’s Summit 2016, the BoI secretary said that considering the importance of business environment and human resource governance for enhancing investment levels in the country, BoI had developed a plan to improve ease of doing business ranking of Pakistan in consultation with all the federal and provincial stakeholders.
He said the plan was to focus on simplifying business registration, digitalising registering property, streamlining construction permits, simplifying tax regime, simplifying procedures for getting electricity, improving investment regulatory framework for resolving insolvency, getting credit and resolving disputes, improving trading across the borders, promoting alternate dispute resolutions (ADRs) and simplifying Work Visa and Branch Office procedures.
“Our plan is to focus on streamlining procedures by setting up one-stop shops, making procedures simpler and faster by introducing technology and reducing or eliminating minimum capital requirements. We also have plans to address solvency laws, bankruptcy laws, enforcing contracts and protecting investors,” he added.
He said that the focus of the government’s plan was to introduce transparency through simplification of rules and regulations, automation and training and skills development.
