Pakistan is taking a significant step towards improving its investment climate with the introduction of one of the llargest regulatory reform initiatives in the world. Supported by the FCDO-funded ASI-REMIT Pakistan program and Jacobs Cordova & Associates, this initiative aims to reduce thousands of burdensome regulations and formalities, making it easier for businesses to operate in the country.
A Digital Solution
A key component of this reform is the establishment of a new national e-registry. This digital platform will serve as the central repository for all legal requirements related to doing business in Pakistan. By consolidating and digitizing existing laws and regulations, the e-registry will help eliminate unnecessary red tape and create a more conducive environment for investment.
Government Commitment
The Prime Minister has shown strong support for this initiative, directing the formation of a dedicated Cabinet committee to oversee its implementation. The first phase of the project is expected to be completed by December 2024, focusing on the most critical sectors of the economy.
A Brighter Future for Pakistan
This regulatory guillotine is a prime example of how technical assistance can drive positive change. By empowering the government to lead and own its reform agenda, this initiative has the potential to improve the lives and livelihoods of millions of Pakistanis.
The benefits of this reform are far-reaching:
- Enhanced investment climate: Reduced regulations will attract more foreign and domestic investment.
- Increased economic growth: Streamlined processes will boost business efficiency and productivity.
- Improved job opportunities: A more robust economy will create more jobs, especially for young people.
The successful implementation of this regulatory guillotine could mark a turning point for Pakistan, paving the way for a brighter and more prosperous future for its citizens.
