ISLAMABAD: The government has decided to accelerate business reforms by removing 70–75 percent of unnecessary regulations and federal cabinet has approved 170 amendments to the Companies Act, 2017, and a bill in this regard has been sent to Parliament.
This was stated by Adviser to the Prime Minister on Industries and Production Haroon Akhtar Khan while addressing a press conference alongside the Chief Minister of Gilgit-Baltistan (G-B) here on Friday.
Haroon Akhtar said the government was undertaking historic reforms to simplify the business environment, remove unnecessary regulatory hurdles and promote domestic and foreign investment in Pakistan. The adviser said the complexity of the regulatory framework and difficulties in doing business had been among the major factors discouraging foreign investment in Pakistan.
“Over the past 78 years, laws and regulations have been introduced to meet different needs. However, with the passage of time, unnecessary complexities and overlapping requirements have accumulated, making it difficult for businesses to operate efficiently,” Haroon Akhtar Khan said.
He explained that the government was conducting a comprehensive review of regulators, laws and regulations affecting businesses across the country. The reform process has made substantial progress, with approximately 60–70 percent of the overall work completed. Reform proposals submitted by various institutions recommend eliminating, on average, 70–75 per cent of unnecessary or duplicative regulations.
The Adviser said that Prime Minister Shehbaz Sharif was personally overseeing the reform agenda and holding review meetings every two weeks to ensure progress. The implementation of several proposed reforms had already begun, while further measures were being developed to improve the ease of doing business and strengthen investor confidence.
Highlighting the proposed AsaanKarobar Act, Haroon Akhtar Khan said the government was working to establish a business environment aligned with international best practices. The initiative aims to simplify regulatory procedures, reduce compliance costs and create a more predictable and investor-friendly framework for businesses operating in Pakistan.
He further stated that 170 amendments to the Companies Act, 2017, had been approved by the federal cabinet and the relevant bill had been forwarded to Parliament. The proposed amendments aim to facilitate company registration and business operations while modernising Pakistan’s corporate regulatory framework.
International regulatory systems, particularly those of Delaware in the United States, the United Kingdom and Canada, had been studied as benchmarks for the proposed reforms. The government had also engaged a senior international consultant with experience in regulatory reform across 135 countries to support the process, he explained.
Haroon Akhtar said that regulatory reviews were underway in several sectors, including dairy, maritime, beverages, oil refineries, pharmaceuticals and restaurants. The objective is to identify redundant requirements, streamline procedures and ensure that regulations serve legitimate public and economic interests without imposing unnecessary burdens on businesses.
The Adviser emphasised that effective reforms required close coordination between the federal government and provincial and regional administrations. In line with the Prime Minister’s directions, the government was working to advance reforms not only at the federal level but also in coordination with the provinces, Gilgit-Baltistan and Azad Jammu and Kashmir.
“We want to ensure that federal and provincial reforms are aligned so that businesses across Pakistan can operate in an environment that is simpler, more transparent and more consistent,” he said.
Addressing the issue of industrial inspections, Haroon Akhtar Khan noted that businesses often faced multiple inspections by different departments, including those responsible for labour, environmental protection, fire safety, buildings and boilers. The overlapping procedures could disrupt business operations and create avoidable compliance costs.
He said the proposed reforms would bring greater transparency and consistency to the inspection system, protect the rights of businesses and industrialists, and reduce unnecessary difficulties while maintaining essential regulatory safeguards. International best practices were being considered to develop a more efficient and balanced inspection framework.
The Adviser also outlined plans for an integrated, single-window digital portal through which businesses would be able to submit applications and connect with the relevant provincial authorities and regulatory bodies. The proposed platform is intended to reduce the need for businesses to visit multiple departments and help them complete necessary regulatory procedures through a single point of access.
“Our objective is to make investment easier, reduce the cost of doing business and restore the confidence of both domestic and foreign investors. Businesses should be able to focus on production, innovation and expansion rather than navigating unnecessary procedural hurdles,” he said.
Haroon Akhtar reiterated that the government was committed to creating an enabling environment in which investors could make decisions with confidence, industries could expand and new employment opportunities could be generated.
He concluded that simplifying business regulations, strengthening domestic industry and attracting investment were essential for sustainable economic growth, industrial development and job creation in Pakistan.
Copyright Business Recorder, 2026