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Press Release - Pakistan Doing Business Retreat


4/5/2018
PRIME MINISTER’S OFFICE
BOARD OF INVESTMENT
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PRESS RELEASE 

Pakistan Doing Business Retreat
 
Islamabad 06th April, 2018  A workshop with contributors to the World Bank Doing Business Report was held in Karachi on 5th April 2018. The work shop aimed to provide the updated information regarding the efforts of government of Pakistan to create a business enabling environment in Pakistan. Team Board of Investment, Islamabad; Secretary Samaira Nazir Siddique welcomed the contributors and senior members from FPCCI, OICCI and PBC. Chairperson, Sindh Board of Investment highlighted the importance of reforms in Karachi. When deciding the ranking, Karachi has 65% weightage and thus making Karachi business friendly a top priority. 
 
Video on forming a company and getting NTN simultaneously were displayed to give a demo on how company can be formed in couple of hours by online mode instead of days taken for the same process. Presentation elaborated the method by which an ease of payment of taxes and duties has been introduced after the introduction of on-line payments system by FBR saving the hassle and time to file for sales tax and import/export duty. Introduction of new laws Secured Transaction Act, Credit Bureau Act and Company law has helped strengthen the legal right of the creditor. Processes streamlining in getting electricity connection reduced the time to get a connection from several months to within four months. A similar briefing was given by Sindh Board of Investment referring to the efforts of Government of Sindh, she informed the house that a notification has been issued by Karachi Water & Sewerage Board (KWSB) regarding reduction of connection time from 61 to 21 days, Sindh Building Control Authority (SBCA) has eliminated four (04) procedures for reducing time from 60 to 32 days for getting construction permit and Government of Sindh will launch their Business Portal shortly. According to Asif Saad, Chief Operating Officer Distribution K-Electric, the power utility company is committed to provide reliable and quality power supply and customer friendly processes and services. He explained that K-Electric has been at the forefront of introducing latest technology, which has played a key role in enhancing experience of residential, commercial and industrial customers. Through customer-friendly initiatives for industries the turnaround time for providing new power connection is reduced by 30% in 2017 as compared to its preceding year. He assured that in partnership with the Board of Investment, the World Bank and other concerned authorities, K- Electric would continue its efforts to further enhance the overall business environment in Pakistan."
 
The Vice President, FPCCI and Secretary General OICCI appreciated the efforts of reforms but stressed on testing the reforms in real time basis and presenting number of cases processed under the new and improved systems. Executive Director General, Board of Investment Ms. Fareena Mazhar presented the vision to improve the ranking of pakitan to 50 in the coming years with consistent performance and long term sustainability of the whole reforms effort. She expressed the hope that SMEs will feel the change of all these initiatives. The emphasis of the reform drive was declared to bring country in the list of top reformers.
 
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