ISLAMABAD: MAR 13 (DNA):Federal Minister for Board of Investment, Mr. Qaiser Ahmed Sheikh, chaired a high-level Focused Group Discussion (FGD) on regulatory challenges in the real estate and housing sector, alongside Secretary BOI, Mr. Nadeem Aslam Chaudhary, and key industry stakeholders. The session focused on streamlining approval processes, reducing bureaucratic hurdles, and proposing regulatory reforms to improve Pakistan’s investment climate.

Federal Minister emphasized the real estate sector’s vital role in driving investment, economic growth, and job creation. He acknowledged that complex regulations and procedural inefficiencies have constrained the sector’s potential and reaffirmed the government’s commitment to simplifying business regulations, digitizing approval processes, and fostering a transparent, investor-friendly environment under the Prime Minister’s directives.

Stakeholders highlighted key challenges and recommended targeted reforms, including the introduction of a one-window solution for regulatory approvals, simplification of NOCs, layout plan approvals, and developer registration processes, and enhanced digitalization to improve efficiency and transparency. BOI Secretary, Mr. Nadeem Aslam Chaudhary, reiterated the government’s dedication to modernizing outdated regulations and ensuring a predictable, business-friendly framework.

He stressed that private sector engagement is crucial for reforms that effectively reduce regulatory burdens. As part of its regulatory reform initiative, BOI has mapped compliance requirements across 130 federal regulators and identified 135 burdensome Registrations, Licenses, Certifications, and Other Permits (RLCOs) for review, including 19 specifics to the real estate sector.

BOI is consulting industry representatives to finalize proposals for eliminating or simplifying these RLCOs, which will be submitted to the Cabinet Committee on Regulatory Reforms (CCoRR) for approval. To conclude, Qaiser Ahmed Shaikh assured continued stakeholder engagement to drive policy-level reforms that make the real estate sector more investment-friendly. The recommendations from this session will be compiled and presented at the highest policy forums for swift execution, aligning with the Government of Pakistan’s vision to create a transparent, efficient, and progressive real estate regulatory ecosystem that supports sustainable economic growth.