Friday, December 1, 2023
Main Menu

Experts for minimizing regulatory burden to create a better business environment in KP

ISLAMABAD, OCT 21 /DNA/ – Minimizing regulatory burden on the businesses and cutting the cost of doing business are some of the key steps that could lead to a better business environment, especially in the context of Khyber Pakhtunkhwa. This was the crux of a public-private dialogue, titled: ‘Better business regulatory environment in Khyber Pakhtunkhwa (KP)’, organized by Sustainable Development Policy Institute (SDPI).  

Chief Executive Oficer of Khyber Pakhtunkhwa Board of Investment and Trade Hassan Daud Butt said  that the steps taken by the provincial  government to improve business environment included a mapping of 179 regulations from 32 departments, and evidence driven mechanism for rationalizing and minimizing the regulatory burden on the business in Khyber Pakhtunkhwa. Besides, he added, the provincial government is focusing more on the digitization of procedures and functions regarding regulatory burden. 

Assistant Manager Legal Service Kamran Hussain, while highlighting the role of Small and Medium Enterprises Development Agency (SMEDA) in business registration and other capacity building initiatives, said that the inclusion small businesses in public procurements through joint ventures is the focus of the government. Likewise, SMEDA is also working with the local business associations to bring more investments. 

SDPI Joint Executive Director Dr Vaqar Ahmed asserted that the assessments have shown that the fiscal support and facilitation provided amid the pandemic was not adequate for all sectors. “We also need to aware that the current situation in Afghanistan is bound to impact business climate in Pakistan,” he added. 

At a time when the negotiations with IMF are underway, it would be better to study what lessons from 2021 can be drawn and how deeper public-private dialogue could lend more innovative approaches in the coming year.” He further said that we also need to cut down the cost of doing business i as well as measures to attract foreign investment in the country. 

Representative of Khyber Pakhtunkhwa Chamber of Commerce and Industry Haris Mufti was of view that the lack of an industrial policy for the last decade has incurred huge losses to economy. “The business community is not satisfied with the treatment of goods on Pak-Afghan borders.  

Chief Domain Officer of Pakistan Single Window Naveed Abbas Memon said that the single window is currently facilitating exporters and importers by coordinating them with 74 departments from both federal and provincial governments.  

Comments are Closed