Govt working to develop Pakistan Business Portal

BOI official says one-stop platform will reduce compliance requirements


Our Correspondent December 31, 2020
PM Task Force on IT member Parvez Iftikhar pointed out that Covid-19 had shown that internet of high speed and large ca-pacity was a must to keep wheels of economy, healthcare, education and other sectors moving. PHOTO: FILE

ISLAMABAD:

The government is making all-out efforts to develop Pakistan Business Portal which will act as a virtual one-stop platform for businesses and firms and reduce compliance requirements, said Board of Investment (BOI) Additional Secretary Mukarram Jah Ansari.

In a webinar with officials from all major business chambers of the country, he said that the portal would help facilitate growth of business activities all over the country. He said that all business related public sector organisations would be integrated with the Pakistan Business Portal so that the process of registration and licensing of firms could be relaxed. He gave a detailed presentation on reform measures being undertaken by the BOI under the Pakistan Regulatory Modernisation Initiative (PMRI) to improve the ease of doing business and facilitate investment and business activities in the country.

“Following the implementation of new reforms, Pakistan will be included in the top 90 economies of the world with regard to ease of doing business.”

The official acknowledged that businesses in Pakistan were facing high burden of regulatory requirements and reassured that the aim of PMRI was to reduce compliance and cost burden on firms by eliminating unnecessary procedures and processes.

According to him, mapping 550 business regulations was done for analysis, simplification and elimination of unnecessary laws. “All systems and procedures will be automated for facilitation of the business community,” he said, adding, “Soon, there will be a single-window facility for registration of businesses that will be communicated to all relevant departments and organisations through an integrated system.”

He said that reforms under PMRI would be completed by 2023 in consultation with the private sector. He also invited suggestions from the business chambers to improve the reforms process further.

Speaking on the occasion, Islamabad Chamber of Commerce and Industry Acting President Fatima Azim stressed that the project should be completed on a fast-track basis so that the private sector could start reaping fruits of these reforms.

“The business community is the backbone of the economy and the government should provide maximum facilitation to it with an aim to make Pakistan a hub of business and investment,” she said.

Published in The Express Tribune, December 31st, 2020.

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