Islamabad Chamber of Commerce and Industry (ICCI) President Ahsan Zafar Bakhtawari said the prevailing complicated business regulations were a barrier to business and investment activities in Pakistan, and stressed that the Board of Investment (BoI) should speed up its process of regulations reforms to promote ease of doing business in the country.
He said this while talking to a BoI delegation that visited ICCI under the headship of Director General (Reforms) Zulfiqar Ali and briefed the business community about the Pakistan Regulatory Modernization Initiative (PRMI) to facilitate the business community, said a press release issued here.
ICCI President said the new environmental laws are creating more problems for the private sector as their compliance is not possible, especially for old businesses, and industries, and stressed that BoI should work in consultation with stakeholders to reform and simplify them.
ICCI Vice President Engr Muhammad Azhar ul Islam Zafar said BoI should take a focal person from every chamber of commerce and association for its PRMI to bring concrete reforms in the business regulations and a timeline should be set up for this project.
BoI’s Director General (Reforms) Zulfiqar Ali, and BoI’s Director (Regulatory Modernization) Adnan Munir gave a detailed presentation on PRMI to the business community.—APP
