Prime Minister Shehbaz Sharif launched national regulatory reforms in Lahore today.
Addressing a ceremony on the occasion, the Prime Minister said this regulatory framework is a quantum jump which will facilitate business community, industralists, agriculture and foreign direct investment from Europe, Far East and the Middle East. He said this will also take care of waste of time and resources that lead to corruption and nepotism. He said this has been the demand of the people of Pakistan for decades.
The Prime Minister mentioned that he has entrusted the Board of Investment to lead Asaan Karobaar technical unit, a dedicated body tasked with continuous regulatory modernization and aligning Pakistan’s business environment with international best practices. He emphasized for materializing and implementing these landmark reforms at a fast speed so that the people of Pakistan can feel the change.
Alluding to the dire economic situation back in March 2024, Shehbaz Sharif said Pakistan is now economically out of woods because of the untiring efforts. He said our economic indicators are wonderful. He mentioned that the IMF has also approved a tranche of 1.2 billion dollars.
Shehbaz Sharif said Pakistan has a youth bulge and we are offering them vast opportunities for vocational training and international certification so that they can find productive jobs not only in Pakistan but also abroad.
Shehbaz Sharif said the government is now focusing on the economic growth and to bring investment in attractive sectors such as agriculture, IT and mines and minerals.
In her remarks, on the occasion, UK Minister of State for International Development Baroness Jenny Chapman acknowledged that Pakistan is full of potential. She said the government’s economic reforms are making a positive difference to the business community including the UK investors.
Referring to the rising business confidence in Pakistan, Baroness Jenny Chapman said this is benefitting over two hundred British companies which operate and invest in Pakistan. She was confident that the national regulatory reforms would pave the way for more UK investments in Pakistan, mentioning that these reforms would break down barriers to investment and development in Pakistan.
In his address, Prime Minister’s Special Assistant Haroon Akhtar said the government is introducing reforms in all sectors to bring sustainable development and growth.
He said forward-looking states work on competitiveness and innovation besides providing facilities.
Haroon Akhtar said tariff reforms, regulatory framework innovation and industrial revival have been streamlines together.
