Pakistan Regulatory Modernization Initiatives (PRMI) was a major plan of the Board of investment (BOI) for the modernization and regulation of local business to enhance the foreign direct investment in the country.
Implementation of these reforms, initiated by BOI, was part of the broader strategy of the government aimed at improving productivity and enhancing exports to achieve the objective of sustainable economic growth in the country, Federal Secretary, Board of Investment (BOI), Muhammad Sohail Rajput told APP here.
The Secretary BOI said the main objective of PRMI reforms strategy was to improve the entry and operation environment for business, focusing on the simplification and automation of the regulatory framework at all three government levels including federal, provincial and district level.
He said the vital success indicator of the initiative would be increase in the overall private sector and foreign direct investment level without compromising the effectiveness of the various regulatory regimes.
Sohail Rajput said enabling a business environment played a pivotal role in attracting domestic and foreign investment.
He said all over the world, the emphasis was on improving the business climate.
Replying to a question, he said the World Bank’s coming, Ease of Doing Business (EODB) report 2021-22 to be issued in December this year, which was expected to further improve Pakistan’s ranking below 100.
“Improving Pakistan’s ‘Ease of Doing Business Ranking’ will boost foreign investment in the country”, he said.—APP
