The Cabinet Committee on Regulatory Reforms (CCoRR) met on Friday to review the third quarterly regulatory reform package, prepared by the Board of Investment (BOI).
The session, chaired by Federal Investment Minister Qaiser Ahmed Sheikh, was part of ongoing efforts to modernize Pakistan’s regulatory system. The government aims to improve transparency, reduce red tape, and strengthen the ease of doing business in line with the Prime Minister’s directives.
The regulatory reform package presented by the BOI included several forward-looking proposals. These covered the Regulatory Governance Strategy 2025–2030, which seeks to introduce a modern legal and regulatory framework. One of the major initiatives was the creation of a Pakistan National Legal Registry (PLR) to ensure a centralised and efficient system.
The package also suggested easier business account opening through online onboarding for low-risk firms. A new facility, the Asaan Business Bank Account (ABA), was proposed for SMEs to support financial inclusion.
A major reform was the transition from fragmented district registries to a centralised National Business Registry under SECP. This step would replace outdated systems such as the Partnership Act, 1932. In addition, a new risk-based and technology-enabled framework for foreign investor clearance was suggested to ensure transparency and timely approvals.
The package also called for amendments to the Companies Act, 2017. These changes would modernize compliance requirements, remove outdated provisions, and align corporate governance with international practices.
All proposals in the regulatory reform package were endorsed by the committee, with clear directions for federal ministries and departments to ensure timely implementation.
The centralised registry is expected to simplify business registration, cut duplication, and speed up approvals. Meanwhile, the revised clearance system will give investors greater confidence through predictable timelines.
Minister Qaiser Ahmed Sheikh praised the BOI’s reform team and noted the active participation of regulators. He said the reforms show the government’s commitment to lowering compliance costs, increasing transparency, and creating a business-friendly environment.
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