PM mandates SIFC to accelerate regulatory reforms for ease of doing business

ISLAMABAD: Prime Minister has tasked the Special Investment Facilitation Council (SIFC) with accelerating regulatory reforms and the regulatory guillotine process to improve the ease of doing business in Pakistan.

Regulatory reforms and the regulatory guillotine are considered key instruments for creating a more business-friendly environment for domestic and foreign enterprises. The measures seek to address red tape, complex licensing procedures and unnecessary bureaucratic hurdles that have historically constrained commercial activity in the country.

Under the reforms, obsolete compliance requirements and unnecessary paperwork are being systematically reviewed, simplified or eliminated to reduce operational costs and entry barriers for businesses.

The Board of Investment (BoI) had initially introduced the regulatory guillotine framework, but systemic bottlenecks slowed implementation of the required reforms.

Recognizing the need for a more efficient and friction-free business environment, the prime minister has now assigned SIFC the responsibility of leading the structural reforms through its whole-of-government approach.

Under SIFC’s oversight, the reform process has gained significant momentum, with efforts focused on expediting implementation and ensuring effective coordination among relevant government institutions.

The initiative is aimed at reducing regulatory barriers, improving the business environment and creating a more competitive and attractive destination for both domestic and international investment.

The renewed pace of regulatory reforms is expected to help unlock Pakistan’s investment potential and contribute to sustainable economic growth.