Latest news with #RegulatoryReformsPackage01
Business Recorder
18-07-2025
- Business
- 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formulated by BOI's reform team, comprised of 136 targeted proposals aimed at reducing compliance burden, eliminating outdated procedures, and enhancing the ease of doing business.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
Business Recorder
05-07-2025
- Business
- Business Recorder
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
