An introductory capacity Building Workshop on “Regulatory Reforms through Principle Based Regulatory Framework” for Public Sector Regulators in Punjab was organized by Board of Investment in collaboration with Program implementation Unit, (PIU), Planning & Development Board, Government of Punjab and Revenue Mobilisation, Investment & Trade Program -REMIT, Foreign Commonwealth and Development Office on December 04, 2023 at a local hotel in Lahore.
The workshop was actively attended by large number of senior officials from relevant Ministries & Departments with the aim to discuss the Principle Based Regulatory Framework for regulatory reforms to simplify, modernize and eliminate regulatory bottlenecks for facilitation of businesses. This introductory workshop will be followed by a series of workshops and hackathons to identify reform areas in Punjab.
Ms. Ambreen Iftikhar, Additional Secretary Reforms, Board of Investment in her introductory remarks highlighted that the key objectives of Pakistan Regulatory Modernization Initiative are to reduce the compliance burden of businesses and improve the effectiveness of regulatory regime. She also shed some light on the concept of principle-based regulatory framework. Unlike traditional rules that provide specific guidelines and strict parameters, a principle-based approach sets out high-level standards that entities and individuals must adhere to, giving them greater flexibility to innovate and adapt to changing circumstances.
