The Board of Investment (BoI) has launched three platforms, will provide local and foreign investors ease in online registration.
On Monday, BoI launched 3 platforms which will provide ease in online registration for zone enterprises, also in a comprehensive database of existing and potential investors that will promote business activities.
World Bank Country Director Najy Benhassine launched platforms along with the British High Commissioner to Pakistan Christian Turner and Senior Private Sector Specialist IFC Charles Schneider respectively.
The three platforms are, Pakistan Regulatory Modernization Initiative Strategy (PRMI), Special Economic Zone Management System (SEZMIS) and Investor Relationship Management System (IRMS).
BoI online platforms will assist investors
While explaining the goals behind the platforms, BoI Secretary Fareena Mazhar said the aim was to go for gradual evolution to a paperless environment that will help reduce the compliance burden for businesses.
Meanwhile, Secretary General Overseas Investors Chamber of Commerce & Industry Abdul Aleem and CEO Pakistan Business Council Ehsan Malik expressed satisfaction with the government’s direction for acceleration of private sector growth through digitization and reformation of the regulatory landscape.
“We have been working with BoI to design and implement investment strategies while modernising systems through revamped websites and digital portals,” said IFC Senior Country Manager for Pakistan Nadeem A Siddiqui.
He further said by adding, “Future of Pakistan anchors around its economic growth,” said Mr Turner. “UK with its partners is very proud to be supporting the regulatory efforts at Federal and Provincial level as these will lay the foundation for regulatory system of tomorrow’s Pakistan,”
Mr Benhassine also said “The automation of regulatory service delivery with the development of Pakistan Business Portal (PBP) will further reduce the need for businesses to visit multiple offices for regulatory compliance,”