KARACHI, Oct 28 (APP): The Adviser to the Prime Minister on Industries and Production Haroon Akhtar Khan, Wednesday, assured the business community of prompt measures to promote ease of doing business, industrial development and sustainable economic growth.
The Advisor to PM expressed the views while addressing the leadership of industrial and trader fraternity at Federation of Pakistan Chambers of Commerce and Industry (FPCCI) along with Prime Minister’s Coordinator for Commerce and Industries Rana Ihsan Afzal and a delegation of the Special Investment Facilitation Council (SIFC).
Haroon Akhtar highlighted the government’s measures to facilitate the business community, carrying out reforms for simplification and digitization of regulatory frameworks and taxation matters and ease of doing business to attract investment, promote trade and industrial activities.
The federal government’s regulatory reform framework envisions the establishment of the Pakistan Regulatory Registry and Pakistan Business Portal and drafting of Pakistan Aasan Karobar Act to streamline procedures and reduce unnecessary regulatory hurdles, he said and added that the initiative was aimed at creating a more facilitative environment for businesses through simplifying business regulations, reducing compliance requirements and making it easier for the business community and investors to establish and expand their businesses across the country.
A significant progress has been made on the reform agenda as Prime Minister Shehbaz Sharif and Field Marshal Asim Munir were taking keen interest in materializing the vision, he said and informed that all the provinces were on board in this regard while SIFC was extending its fullest support for the national cause.
The Advisor highlighted the SIFS’s role and contribution to coordinating regulatory reforms, facilitating intergovernmental collaboration and addressing procedural bottlenecks affecting investors and businesses so that Pakistan’s true economic potential could be unlocked.
Haroon Akhtar Khan said Pakistan’s growing international profile, including its role in promoting peace and facilitating dialogue amid Middle East regional tensions, presented an opportunity to strengthen investor confidence and attract global businesses.
Terming the exports as a lifeline for the national economy, Haroon Akhtar emphasized that exports need to be enhanced at par with the increase in import volume. He also stressed on substitution in both imports and exports, saying that Pakistan could achieve substantial growth in exports by promoting industrialization and enhancing manufacturing.
Prime Minister’s Coordinator for Commerce and Industries Rana Ihsan Afzal, speaking at the occasion, said that the federal government was carrying forward the agenda of reforms and economic stability and growth despite geo-political intensification and other challenges.
He said that access to the finance has been improved, tax rate for exporters been reduced and regulatory and licensing processes being simplified to further facilitate the industry, business and investment in the country.
Secretary SIFC, Jamil Ahmad Qureshi briefed the business and industrial community on progress made on regulatory reforms, legislation as to, integration of Pakistan Single Window with the Ministry of Foreign Affairs and Pakistan Business Portal.
He said that we are working to establish a digital one stop shop for the entire country that will ease the business-related regulatory procedure at federal and provincial level and its first phase will be launched in December this year.
Senior Vice President FPCCI Saquib Fayyaz Magoon, President Karachi Chamber of Commerce and Industry Talat Mehmood and other industrialists and businessmen lauded the PM’s initiatives for promoting ease of doing business and regulatory reforms.
They emphasized on consistency and continuity of policies, effective stakeholders’ coordination, simplified regulations and improved infrastructure to facilitate investment, expand business activity and support Pakistan’s long-term economic growth.
Source: APP (Associated Press of Pakistan)
