PM directs BOI to present plan on ease of doing business

ISLAMABAD: Prime Minister Imran Khan has directed the Board of Investment to formulate and present a comprehensive strategy in order to simplify the procedures related to government approvals, taxation, dispute resolution and investor facilitation.

The PM was chairing a high-level meeting on Thursday to review the progress made on improving the ‘ease of doing business’ and creating an enabling environment to facilitate the conversion of interest of the local and foreign investors into actual investments in the country.

Board of Investment Chairman Haroon Sharif briefed the meeting that efforts were being made to revive the confidence of the private sector in government policies and to put in place a framework that facilitated the business community in its business pursuits.

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The BOI chairman acts as an agent to facilitate business transactions, remove impediments in the way to the materialization of investors’ interest into actual investments and to ensure smooth functioning of the businesses in the country.

He briefed the prime minister about various issues being faced by the business community including taxation, access to finance, regulation and policy issues.

Haroon Sharif said BOI was working actively with the provinces and relevant ministries to remove barriers in the way of establishing special economic zones. He also informed the prime minister about Naya Pakistan Diaspora Fund which was being set up to promote SMEs and rural development in key areas of education, health and infrastructure development.

The BOI chief apprised the prime minister of the investment framework which has been structured for attracting and materializing investment from UAE, Saudi Arabia, China, Japan and Malaysia.

It was decided during the meeting that the prime minister would chair a review meeting every month on ‘ease of doing business’ in the country.

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