Prime Minister Abdul Razak Dawood’s commercial adviser has shown that Pakistan has improved its “ease of business” ranking by 11 points.
He said this during a joint briefing with the investment board chairman, Haroon Sharif. “Pakistan has improved its position by 11 points by making the 2019 business report for the first time in a year,” the PM adviser said.
Pakistan Has Improved the Ease of Business by 11 Points: PM Adviser
Now a company can register with the Securities and Exchange Commission (SECP) in a day, he added. The dignitaries informed the media that there is a complete automation of the online property register in Punjab. This drastically reduces time while improving the quality and transparency of land administration.
Dawood also said Pakistan is working hard on reforms to improve the ease of business in the country. He also said the government set up an integrated web portal to register new companies to save time.
The outstanding features of the reforms include the online payment of federal and provincial taxes and now the number of these payments is reduced from forty-seven to ten.” Online payments will help Pakistan improve its position in the taxpayer indicator, ” he said.
PMI adviser and president, BOI, said that K-Electric has simplified the process of acquiring a commercial electricity connection by connecting online, as customers can also track their application.
They said the government had set up the dedicated facility to make commercial offices at federal and federal level to eliminate barriers and facilitate investors in commercial operations.
The BOI president said the government’s priority is to make revenue and business activities faster, easier and cheaper. He added that the next step would be to eliminate unnecessary regulations and permits, certificates of no objection and inspection.