logo
CCoRR begins deliberations on Regulatory Reforms Package 01

CCoRR begins deliberations on Regulatory Reforms Package 01

ISLAMABAD: The second meeting of the Cabinet Committee on Regulatory Reforms (CCoRR) was held Friday under the chairmanship of Qaiser Ahmed Sheikh, federal minister for investment.
The session marked the beginning of deliberations on Regulatory Reforms Package 01, a key initiative aimed at enhancing the ease of doing business and modernising regulatory practices in Pakistan.
The reforms team from the Board of Investment (BOI), led by Additional Secretary Zulfiqar Ali, presented a comprehensive set of reform proposals.
Senior officials from key federal ministries and regulatory authorities were also in attendance and provided valuable input during the discussions.
The committee reviewed 28 reform proposals in detail, all of which fall under Regulatory Reforms Package 01, focused on simplifying and streamlining Registrations, Licenses, Certificates, and Other Permits (RLCOs).
These proposals are designed to eliminate procedural redundancies, digitise approval mechanisms, and abolish outdated or overlapping regulatory requirements.
Addressing the meeting, Federal Minister Qaiser Ahmed Sheikh emphasised that regulatory reforms are the top priority of the Prime Minister.
He directed all relevant ministries and departments to expedite implementation and ensure timely progress reporting. He also expressed appreciation for the proactive and constructive participation of all stakeholders.
The Cabinet Committee will continue its review of the remaining proposals under Package 01 in forthcoming sessions as part of the government's broader agenda to facilitate investment and economic growth.
Copyright Business Recorder, 2025
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Cabinet body okays 104 business reforms
Cabinet body okays 104 business reforms

Express Tribune

time4 days ago

  • Express Tribune

Cabinet body okays 104 business reforms

Listen to article The Cabinet Committee on Regulatory Reforms (CCoRR), chaired by Federal Minister for Investment Qaiser Ahmed Sheikh, concluded a series of three meetings to review the Regulatory Reform Package-01 submitted by the Board of Investment (BOI). According to an official statement on Thursday, the meetings marked a key milestone in the government's effort to modernise Pakistan's regulatory environment in line with the prime minister's directives. The BOI's reform package included 136 proposals aimed at reducing compliance burdens, eliminating outdated procedures, and improving the ease of doing business. The package focused on streamlining federal-level Registrations, Licenses, Certificates and Other Permits (RLCOs) and modernising the Companies Act, 2017 for unlisted companies. During the meetings, the committee reviewed all 136 proposals in detail. A sub-committee led by Haroon Akhtar Khan, Special Assistant to the Prime Minister for Industries and Production, was formed to consult on the Companies Act with the Securities and Exchange Commission of Pakistan (SECP) and other stakeholders. Out of 136 proposals, 104 reforms were endorsed for implementation. These include the removal of 19 redundant regulatory requirements and streamlining of 57 procedural steps through simplification, modernisation, and digitalisation. Once implemented, the approved reforms are expected to deliver significant cost savings, shorten approval timelines, and create a more transparent and business-friendly regulatory ecosystem. The committee directed relevant ministries and departments to implement the reforms within set deadlines, up to 90 days depending on each reform's complexity. BOI will coordinate implementation and regularly report progress to the committee. The committee noted that more reform packages are in development, targeting key sectors of the economy. These future reforms aim to reduce compliance pressures and create space for businesses to invest and grow locally and globally.

‘Regulatory Reform Package-01': CCoRR undertakes comprehensive review of 136 proposals
‘Regulatory Reform Package-01': CCoRR undertakes comprehensive review of 136 proposals

Business Recorder

time4 days ago

  • Business Recorder

‘Regulatory Reform Package-01': CCoRR undertakes comprehensive review of 136 proposals

ISLAMABAD: The Cabinet Committee on Regulatory Reforms (CCoRR), chaired by the Federal Minister for Investment, Qaiser Ahmed Sheikh, concluded a series of three meetings held to review the Regulatory Reform Package-01, prepared and submitted by the Board of Investment (BOI). These meetings marked a key milestone in the government's efforts to simplify and modernise Pakistan's regulatory landscape in line with the directives of the prime minister. The reform package, formulated by BOI's reform team, comprised of 136 targeted proposals aimed at reducing compliance burden, eliminating outdated procedures, and enhancing the ease of doing business. The package focused on two principal areas: the streamlining of federal-level Registrations, Licenses, Certificates and Other Permits (RLCOs), and modernisation of the Companies Act, 2017 for unlisted companies. CCoRR begins deliberations on Regulatory Reforms Package 01 Over the course of the three meetings, the committee undertook a comprehensive review of 136 proposals. Notably, a sub-committee under the convenorship of Haroon Akhtar Khan, Special Assistant to the Prime Minister for Industries and Production, was constituted to lead consultations on the Companies Act in coordination with the Securities and Exchange Commission of Pakistan (SECP) and other stakeholders. It is pertinent to note that out of 136 proposed reforms, 104 of proposals have been endorsed by the Cabinet Committee for implementation. These include the elimination of 19 redundant regulatory requirements, streamlining of 57 procedural requirements that includes simplification, modernisation and introduction of digital mechanisms to enhance transparency and service delivery. Once implemented, the endorsed reforms are expected to result in substantial cost savings, reduced approval timelines, and a more business-friendly regulatory ecosystem. The committee issued clear directives to relevant federal ministries and departments to ensure time-bound implementation of the approved reforms, with timelines upto 90 days based on the complexity of each reform measure. The BOI will continue to coordinate and monitor implementation progress and report back to the Cabinet Committee accordingly. It was noted that additional reform packages are in the pipeline, targeting key areas across different sectors of the economy. These upcoming packages are aimed to reduce the compliance burden on businesses and create the space they need to invest, grow and compete more effectively in local and global markets. The federal minister for investment commended the dedicated efforts of the BOI's reform team and acknowledged the constructive engagement of regulatory bodies in furthering this vital national reform agenda. The conclusion of this review process reflects the government's strong commitment to regulatory modernisation and its resolve to foster an enabling environment for business and investment in Pakistan. Copyright Business Recorder, 2025

‘Govt creating an enabling environment for youths'
‘Govt creating an enabling environment for youths'

Business Recorder

time6 days ago

  • Business Recorder

‘Govt creating an enabling environment for youths'

ISLAMABAD: The Federal Minister for Board of Investment, Qaiser Ahmed Sheikh, in his keynote address as the chief guest at 'Pakistan Youth Development Dialogue 2025', emphasised the government's commitment to creating an enabling environment for youth to thrive as contributors to national growth. He said that youth are the most valuable asset of Pakistan, and investing in their skills and entrepreneurship is the only path towards sustainable economic development. 'Today's rapidly evolving global economy demands a workforce that is adaptable, tech-savvy, and innovative. We need to align our national policies with this reality and ensure that our young population is not left behind,' he noted. The Pakistan Youth Development Dialogue marked an inspiring celebration of World Youth Skills Day, bringing together a powerful mix of policymakers, corporate executives, non-profit leaders, and youth advocates. The core message of the conference cantered on empowering young people through digital skills, inclusive education, and climate leadership to help shape a resilient and sustainable future for Pakistan. The conference was organised by Development Communications Network (Devcom-Pakistan) on Tuesday at a local hotel. Sheikh further highlighted the importance of public-private partnerships to build a strong foundation for youth empowerment. He appreciated initiatives like the Pakistan Youth Development Dialogue and the newly launched Pakistan Youth Development Network for offering a strategic platform where government, corporate, and civil society stakeholders can come together for collective action. A key highlight of the event was the official launch of the Pakistan Youth Development Network under the leadership of Munir Ahmed, executive director Devcom-Pakistan. With over three decades of pioneering work in development communication, climate advocacy, and youth empowerment, Munir Ahmed emphasised the need for cohesive and inclusive national platforms to connect young people with skills development opportunities and policy-level engagement. The National Bank of Pakistan was honoured with three special awards for girls' education, engaging youth in green banking and for youth skills development for its consistent contributions to youth skills development over the years. Shoaib Qaisrani, Head of the North Region, accepted the awards on behalf of the institution. Fatima Shuja, Stream Head Marketing Finance at Jazz Telecom, highlighted the intersection of telecom and youth inclusion. 'Through targeted initiatives and inclusive innovation, we can convert digital access into real economic opportunities — especially for women and underserved communities,' she said. Fajer Rabia Pasha, executive director of Pakistan Alliance for Girls Education (PAGE), noted, 'Education is not just about literacy, it's about dignity and empowerment. Through collective efforts of civil society and corporate partners, we can bring transformative change to the lives of girls in marginalized communities.' Copyright Business Recorder, 2025

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store