ISLAMABAD, January 13: Advisor to the PM on Commerce and Investment, Abdul RazakDawood while chairing the sixth Steering Committee (SC) meeting on Pakistan Regulatory Modernization Initiative (PRMI) appreciated the regulatory reforms introduced for facilitation of SMEs under BOI led Regulatory Reforms and Guillotine Initiative. He expressed satisfaction on performance of stakeholders and encouraged them to continue the momentum towards ensuring a business friendly environment in the country. He said it’s heartening to see acknowledgement of government endeavors by the private sector as it is testament of the on ground positive impact.
Secretary BOI, Ms. FareenaMazhar acknowledged the active involvement of private sector in supporting BOI in successful execution of the ongoing initiative. The Secretary expressed gratitude to the Prime Minister and his team for supporting the timely and successful implementation of the regulatory reform activity. She reaffirmed Federal and Provincial governments’ commitment to improve the business climate of the country through continued regulatory reforms.
The sixth Steering Committee (SC) meeting on Pakistan Regulatory Modernization Initiative (PRMI) chaired by Advisor to the Prime Minister on Commerce and Investment, Abdul RazakDawood was held at Board of Investment (BOI) on 13th January 2022.
The meeting reviewed implementation of decisions made in 5th SC meeting, briefing by BOI on regulatory guillotine activities & provincial groups on their respective agendas related to PRMI.
Former Advisor to PM on Institutional Reforms & Austerity Dr. IshratHussain who is currently included as private member in PRMI SC, Secretary BOI Ms. FareenaMazhar, Additional Secretary Commerce, Joint Secretary Industries & Production, Provincial & Regional Chief Secretaries/ representatives, Director ICT, representatives of private sector i.e. PBC, FPCCI, OICCI, KCCI, LCCI, FCCI and Pakistan’s international development partners World Bank Group & FCDO attended the meeting in person and virtually.
Additional Secretary BOI, Mr. MukarramJah Ansari gave a broad overview of the working and progress of Regulatory Guillotine mechanism which aims to identify, simplify, modernize or eliminate the regulatory bottle necks for facilitation of businesses particularly Small & Medium Enterprises. The entire exercise has been carried out in close collaboration with business associations of varied sectors to ensure accurate identifications of cumbersome regulations that are hampering business growth.-PR