PM directs simplification of regulations, faster digitalization to boost investment

ISLAMABAD, Apr 28 (APP): Prime Minister Shehbaz Sharif on Tuesday directed the relevant authorities to ensure the provision of all necessary facilities to both domestic and foreign investors in order to boost the country’s exports and said that regulatory compliance processes be simplified and made more cost-effective to boost investment in the country.

Emphasizing the need for stronger engagement, the prime minister also directed officials to enhance communication between the government and investors, and to expedite the digitization of systems related to licensing and other services.

He was chairing a meeting to review efforts aimed at promoting investment in the country. He said that promoting investment for economic development remained one of the government’s top priorities.

“The establishment of the Special Investment Facilitation Council (SIFC) has increased investor confidence in the country,” the prime minister remarked.

During the meeting, participants were briefed on various measures being undertaken to promote investment. It was noted that the share of Special Economic Zones (SEZs) in the country’s exports stood at 3.7% during the July–March period of the current fiscal year.

The meeting was informed that the government aimed to increase the share of SEZs in exports to 8% by the fiscal year 2028.

Participants were further told that a Business-Ready Action Plan was being developed in consultation with the provinces to enhance investment. Additionally, a Pakistan Regulatory Registry is being established to digitize services, making it easier for investors and businesses to obtain government approvals.

The meeting was informed that currently 21 SEZs were operational across the country, and this number was expected to increase to 26 by 2026.

It was also highlighted that under the Asaan Karobar Act, bureaucratic red tape will be reduced, and the provision of digital services will further facilitate investment.

The meeting was attended by Minister for Law and Justice Azam Nazeer Tarar, Minister for Economic Affairs Ahad Khan Cheema, Minister for Information Technology and Telecommunication Shaza Fatima, Minister of State for Finance Bilal Azhar Kayani, Special Assistant to the Prime Minister Haroon Akhtar, and senior government officials.