Prime Minister Shehbaz Sharif has called for the expedited completion of Business Facilitation Centres across Pakistan to enhance the ease of doing business and attract greater foreign investment. During a high-level review meeting on December 20, 2024, the Prime Minister underscored the importance of regulatory reforms and efficient project execution to create a more business-friendly environment in the country.
According to a statement issued by the Prime Minister’s Office (PMO), the meeting focused on evaluating the progress of the Board of Investment’s (BoI) initiatives and projects. PM Shehbaz highlighted the need for a comprehensive roadmap to finalize business-to-business (B2B) agreements with international investors and ensure the timely implementation of signed memorandums of understanding (MoUs).
The premier emphasized the importance of setting realistic yet ambitious investment targets and stressed the critical role of effective marketing in showcasing the vast investment opportunities Pakistan offers. Initiatives such as the establishment of Business Facilitation Centres and the organization of international roadshows were identified as pivotal tools for attracting foreign investors and fostering economic growth.
During the meeting, it was revealed that a Geographic Information System (GIS) survey of 35 Special Economic Zones (SEZs) across the country has been completed. This comprehensive survey has provided extensive data to accelerate the progress of ongoing projects within these SEZs. The completion of the survey is expected to enable more streamlined planning and execution of development activities.
An 18-point plan has been formulated to enhance the operational efficiency of SEZs, further underscoring the government’s commitment to optimizing these zones as hubs of economic activity. The Prime Minister was also briefed on the successful finalization of over 200 B2B agreements with Chinese companies, with MoUs worth $70 million already signed.
Proposals for the Ease of Doing Business Act 2024 were also presented during the meeting. This proposed legislation seeks to empower the Board of Investment to restructure Pakistan’s regulatory framework, aligning it with modern requirements to foster a conducive environment for both local and international businesses.
The Prime Minister reiterated the urgency of implementing these reforms and initiatives to ensure Pakistan remains competitive in attracting foreign direct investment. He stressed that collaboration among all stakeholders is essential to achieve the desired outcomes, particularly in boosting investor confidence and driving economic growth.
The meeting was attended by Federal Minister for Privatisation Abdul Aleem Khan and senior officials from various institutions. Their presence highlighted the government’s holistic approach to addressing economic challenges and fostering a progressive business ecosystem.
By prioritizing the completion of Business Facilitation Centres and advancing regulatory reforms, the government aims to create a robust platform for economic activity. These efforts reflect the administration’s resolve to attract international investment, strengthen domestic industries, and pave the way for sustainable economic development in Pakistan.