Skip Navigation LinksHome > Info Center > View News

Press Release - Pakistan Doing Business Retreat (Karachi)


4/5/2018

PRIME MINISTER’S OFFICE
BOARD OF INVESTMENT
********

PRESS RELEASE 05-04-2018
Pakistan Doing Business Retreat 
 
A workshop with contributors to the World Bank Doing Business Report and private sector’s representatives was held in Karachi on 5th April 2017. The work shop aimed to provide the updated information regarding the efforts of government of Pakistan to create a business enabling environment in Pakistan. Objective of the seminar was to apprise participants about reforms undertaken to improve the ease of doing business in the country.
 
In her opening statement, Secretary BOI Mrs Samaira Nazir appreciated the joint efforts of federal and provincial Government institutions for successful completion of sprint 1 drive. She also highlighted that Pakistan is increasingly being identified globally as a business and investor friendly country. She added that 41 reform actions were made only in 2017 and as of today, 75 reform actions have been completed. She hoped that these efforts will contribute to improving business climate in Pakistan. She emphasized the need of communicating these reforms to the private sector through ongoing media campaign which will help their recognition and uptake during the current DB survey. 
 
Ms. Naheed Memon, Chairperson, Sindh Board of Investment shared key business reforms of the Sindh Government with participants. She underscored the importance of reforms in Karachi. When deciding the ranking, Karachi has 65% weightage and thus making Karachi business friendly a top priority. 
 
Video on forming a company and getting NTN simultaneously were displayed to give a demo on how company can be formed in couple of hours by online mode instead of days taken for the same process. Presentation elaborated the method by which an ease of payment of taxes and duties has been introduced after the introduction of on-line payments system by FBR saving the hassle and time to file for sales tax and import/export duty. Introduction of new laws Secured Transaction Act, Credit Bureau Act and Company law has helped strengthen the legal right of the creditor. Processes streamlining in getting electricity connection reduced the time to get a connection from several months to within four months. A similar briefing was given by Sindh Board of Investment referring to the efforts of Government of Sindh, she informed the house that a notification has been issued by Karachi Water & Sewerage Board (KWSB) regarding reduction of connection time from 61 to 21 days, Sindh Building Control Authority (SBCA) has eliminated four (04) procedures for reducing time from 60 to 32 days for getting construction permit and Government of Sindh will launch their Business Portal shortly. He explained that K-Electric has been at the forefront of introducing latest technology, which has played a key role in enhancing experience of residential, commercial and industrial customers. Through customer-friendly initiatives for industries the turnaround time for providing new power connection is reduced by 30% in 2017 as compared to its preceding year. He assured that in partnership with the Board of Investment, the World Bank and other concerned authorities, K- Electric would continue its efforts to further enhance the overall business environment in Pakistan."
 
The Vice President, FPCCI and Secretary General OICCI appreciated the efforts of reforms but stressed on testing the reforms in real time basis and presenting number of cases processed under the new and improved systems. 
 
Executive Director General, Board of Investment Ms. Fareena Mazhar presented the vision to improve the ranking of pakitan to 50 in the coming years with consistent performance and long term sustainability of the whole reforms effort. She expressed the hope that SMEs will feel the change of all these initiatives. The emphasis of the reform drive was declared to bring country in the list of top reformers. She underlined the need of cooperation and support from business community and media for improving and sustaining the Pakistan’s ranking in ease of doing business. 
* * * * * * *