Govt Promises More Business Friendly Reforms

The federal government has reaffirmed its commitment to creating a more business friendly environment by simplifying regulations, supporting small and medium enterprises, and expanding Pakistan’s manufacturing sector through institutional reforms and digitalization.

Commerce Minister Jam Kamal Khan made the remarks during a meeting with a delegation from the Islamabad Chamber of Small Traders and Small Industries (ICSTSI), where both sides discussed issues related to taxation, industrial infrastructure, exports, and the ease of doing business.

The minister said the government is working to remove unnecessary regulatory hurdles, modernize business processes, and simplify business registration so entrepreneurs can complete regulatory requirements more efficiently before starting commercial operations.

He also welcomed the State Bank of Pakistan’s revised SME definition, which the delegation said would allow more businesses to qualify for financing and other incentives.

Business representatives highlighted that many small enterprises continue to operate outside the formal economy because of complex registration procedures, repeated audits, and high compliance costs.

Jam Kamal said the government aims to broaden the tax base by encouraging voluntary documentation instead of increasing the burden on existing taxpayers.

The delegation also called for dedicated industrial zones for SMEs in Islamabad, a modern slaughterhouse to support the halal meat industry, and the development of a 100 acre industrial project through a public private partnership.

The minister said organized industrial estates would improve productivity, product quality, environmental compliance, and job creation, while better use of livestock byproducts could generate additional economic value.

Jam Kamal encouraged the business community to submit commercially viable investment proposals, saying public private partnerships, industrial diversification, and technological advancement will play a key role in strengthening Pakistan’s manufacturing sector, increasing exports, and creating sustainable employment.