Prime Minister Shahbaz Sharif will inaugurate the Business Facilitation Center (BFC) in Islamabad this month to facilitate businesses.
Sources told ProPakistani that the Board of Investment (BoI) had signed the Service Level Agreement (SLA) with all federal government departments to streamline and facilitate business-related services for entrepreneurs and businesses in Pakistan.
The Prime Minister of Pakistan in June 2024 ordered to establish a Model Business Facilitation Center (BFC) in Islamabad to connect multiple federal agencies through an automated system for the submission, processing, and issuance of RLCOs (Required Licenses, Certificates, and Other approvals) under one roof.
The BFC will serve as a unified platform to streamline the processing and delivery of RLCO services for businesses, Provide a centralized hub where entrepreneurs can access multiple services efficiently, Enhance inter-agency collaboration to ensure seamless service delivery, Improve the ease of doing business by reducing delays and offer transparent and accountable service processes to foster trust among stakeholders.
Sources said that the Islamabad Business Facilitation Center will deal with 341 (RLCOs) of 22 Ministries and 41 Departments. Every department will depute their Experts for onward placement at the Business Facilitation Center, Islamabad.
I have a lot of work to do regarding business facilitation. If the Prime Minister gets someone to coordinate, I can give him a very good proposal through which we can bring billions of dollars worth of investment. And in terms of facilitation, we can provide it with world-class facilitation. If we have to build an empty institution, then there are dozens of other institutions that are just sitting there eating funds, eating money. Not a single institution has done anything for Pakistan. So, in my opinion, if we work properly, we can bring $100 billion in foreign investment to Pakistan in the next 10 years. The mechanism for this is there and we have already made it work.