Prime Minister Shehbaz Sharif on Friday directed authorities to modernise the country’s regulatory system to reduce bureaucratic hurdles, improve transparency and create a more business-friendly environment for domestic and foreign investors.
Chairing a high-level meeting to review ongoing economic reforms, the prime minister ordered officials to establish a comprehensive regulatory registry bringing existing requirements, rules and regulations under a unified framework.
Officials informed the meeting that the Cabinet Committee on Regulatory Reforms had approved 557 reforms across seven multi-sector areas, with the measures expected to generate annual savings of around Rs460 billion.
The prime minister also called for the nationwide implementation of the Easy Business Act to harmonise regulatory procedures across provinces and ensure uniform facilities for businesses.
He directed authorities to effectively publicise regulatory reforms introduced through the Special Investment Facilitation Council (SIFC) so that businesses could be informed about available facilities and benefit from them.
The prime minister further instructed an SIFC delegation, led by his adviser on industries Haroon Akhtar Khan, to visit all provinces and engage with provincial governments on the reform process aimed at facilitating businesses.
He also directed the SIFC and Punjab chief secretary to complete the integration of the eBiz Punjab system with the Islamabad Business Facilitation Centre by March 2027.
