The Cabinet Committee on Regulatory Reforms, chaired by Federal Minister for Investment Qaiser Ahmed Sheikh, has approved 104 out of 136 proposals under the Board of Investment’s first Regulatory Reform Package.
The approved reforms aim to reduce compliance costs, simplify procedures, and improve business facilitation by eliminating 19 redundant requirements and streamlining 57 procedural steps.
The package focused on federal-level registrations, licenses, certificates, and permits (RLCOs), and included plans to amend the Companies Act, 2017, for unlisted firms. A subcommittee will consult the SECP and stakeholders on the proposed changes to the Act.
Relevant ministries have been directed to implement the reforms within a 90-day deadline, depending on the complexity of each reform. The BOI will oversee execution and provide regular progress updates.
The committee confirmed that additional reform packages are being developed to target key sectors and further ease regulatory pressures on businesses.