The federal government has approved around 170 amendments to the Companies Act 2017 to simplify company registration, reduce compliance costs and make it easier to do business in Pakistan.
Adviser to the Prime Minister on Industries and Production Haroon Akhtar Khan said complex regulations and overlapping requirements had discouraged foreign investment and made it harder for businesses to operate efficiently. The government aims to simplify procedures, remove unnecessary hurdles and modernize the country’s corporate regulatory framework.
Khan announced the reforms at a news conference on Friday, saying the proposed bill had been forwarded to Parliament.
Unnecessary Business Regulations Targeted
The adviser said regulatory reviews were underway in sectors including dairy, maritime, beverages, oil refining, pharmaceuticals and restaurants. The reviews aim to identify redundant requirements and streamline procedures.
According to Khan, the government has studied regulatory systems in Delaware in the United States, the United Kingdom and Canada as benchmarks for its proposed reforms.
He said around 60 to 70 percent of the overall reform work had been completed, while proposals submitted by various institutions recommended removing an average of 70 to 75 percent of unnecessary or duplicative regulations.
Single-Window Portal
The government is also working on the proposed Asaan Karobar Act to simplify regulatory procedures and establish a more predictable business environment.
Plans include an integrated digital portal that would allow businesses to submit applications and connect with provincial authorities and regulatory bodies through a single platform, reducing the need to visit multiple departments.
Khan said the government was also reviewing industrial inspection procedures, under which businesses can face inspections from multiple departments covering labor, environmental protection, fire safety, buildings and boilers. The proposed reforms aim to reduce overlapping inspections while maintaining essential regulatory safeguards.
Reforms to Extend Across Provinces
The adviser said the government was coordinating with provincial administrations, Gilgit-Baltistan and Azad Jammu and Kashmir to align business regulations across the country.
He added that an international consultant with experience in regulatory reform across 135 countries had been engaged to support the process.
The government says the reforms are intended to lower the cost of doing business, encourage domestic and foreign investment, strengthen industrial growth and create employment opportunities.
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