Pakistan ranks high among SA countries in ease of doing business: Secretary BOI

ISLAMABAD, January 21: 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 liberalization, deregulation, de- licensing and disinvestment during the last two decades have brought about significant improvements in domestic and foreign investments.
This was stated by Secretary Board of Investment (BoI) Iftikhar Babar during Thought Leader’s Summit 2016 here on Thursday.
Considering importance of business environment and Human Resource governance for enhancing investment levels in the country, Board of investment has developed a plan to improve doing business ranking of Pakistan in consultation with all federal and provincial stakeholders. He said the Action Plan was focussing on simplifying business registration, digitalizing 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 focussing on streamlining of procedures by setting up One-Stop Shops, making procedures simpler and faster by introducing technology and reducing or eliminating minimum capital requirements. We have extensive programmes to address solvency laws, Bankruptcy laws, enforcing contracts and protecting investors”, he added.
He said the focus of government’s plan was introducing transparency through simplification of rules and regulations, automation and training and skills development.-APP