Prime Minister Shehbaz Sharif on Friday directed authorities to expedite the completion of Business Facilitation Centres across Pakistan.
As per a statement released by the Prime Minister’s Office (PMO), the directives from the PM came during a high-level review meeting on the progress of Board of Investment (BoI) projects and initiatives.
During the meeting, PM Shehbaz stressed the importance of regulatory reforms to ensure a business-friendly environment in Pakistan.
“A comprehensive and effective roadmap should be developed to finalise B2B agreements with international investors and implement signed MoUs,” he said.
According to the PMO statement, the premier emphasised that investment targets should be set in a manner that ensures swift achievement.
He noted that effective marketing of investment opportunities available in Pakistan is pivotal to attracting foreign investors, adding that initiatives including Business Facilitation Centres, and organisation of roadshows are crucial for attracting foreign investment.
During the meeting, the PM was briefed that a Geographic Information System (GIS) survey of 35 Special Economic Zones (SEZs) in the country had been completed. Amid its completion extensive data is now available to accelerate progress on ongoing projects within SEZs, it was learnt.
It was informed that an 18-point plan has been formulated to enhance the efficiency of SEZs.
The PM was told that over 200 B2B agreements have been finalised with several Chinese companies, and MoUs worth $70 million have been signed.
Proposals regarding the Ease of Doing Business Act 2024 were also presented at the meeting.
Under the proposed legislation, the BoI will be empowered to restructure the country’s regulatory framework to align with contemporary requirements.
The meeting was attended by Federal Minister for Privatisation Abdul Aleem Khan and senior officials from other institutions.
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