ISLAMABAD: Board of Investment (BOI) has designed a digital regulatory system to keep a check on electronic business transactions.
“A digital Business Regulatory Mapping Portal has been designed to ensure transparency and accuracy in business transactions through e-commerce,” Chairman BOI Zubair Gilani said at a meeting chaired by PM Khan.
“The automation of procedures will facilitate business community besides ensuring transparency in the system”.
The Prime Minister directed that special attention should be paid toward promoting digital economy and offering digital solutions to the start-up enabling them to capitalize their potential in IT sector.
He said that automation of the regulatory procedure and online availability of required information will help businesses in smooth operations.
Prime Minister Imran Khan directed Board of Investment for early completion of consultation process with the relevant stakeholders for streamlining and simplifying laws and regulatory framework relating to business in various sector of economy.
He also directed that the process of “guillotining” unnecessary regulations should be completed as soon as possible so as to improve ease of doing business and facilitate business community especially start-up companies.
This he said during a meeting on removing regulatory hurdles at Prime Minister’s office today. The meeting was attended by Advisor on Commerce, Mr. Abdul Razak Dawood, Advisor on Institutional Reforms Dr. Ishrat Hussain, Chairman, Board of Investment (BOI) Mr. Zubair Gilani, Punjab Provincial Minister for Industries Mian Aslam Iqbal, Country Director World Bank and senior officials.
Zubair Gilani briefed that an extensive stakeholders’ consultation process is underway for removing hurdles in ease of doing business. This process involves elimination of irrelevant or obsolete regulations, review of existing regulatory framework and amendment in existing laws. It was further informed that
Meeting was informed by Minister Industries Punjab that the Government of Punjab has undertaken a number of initiatives to facilitate businesses including unifying taxes, eliminating inspections, offering one window facilitation and introducing Punjab Smart Regulation Act.