BOI to Introduce Asaan Karobaar Bill in Parliament
During a consultative meeting on Monday, stakeholders decided to start the legislative process in order to introduce the Asaan Karobaar Bill in Parliament as soon as possible.
This was decided at the Asaan Karobaar Bill Workshop, which had over 80 attendees, including representatives from the public and private sectors, all of the provincial governments, AJK, GB, Finance Division, Federal Board of Revenue (FBR), Securities & Exchange Commission of Pakistan (SECP), Pakistan Single Window (PSW), Sustainable Development Policy Institute (SDPI), Pakistan Institute of Development Economics (PIDE), Pakistan Business Council (PBC), KP, and KP.
In her closing remarks, Additional Secretary Board of Investment (BOI) Ambreen Iftikhar stated that the final draught of the Asaan Karobaar Bill would take into account the worthwhile discussions between the stakeholders.
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According to her, BOI is fully aware of the challenges experienced by various investors while starting their firms, and during the consultative session, helpful input was provided in this regard.
According to her, the Bill would ensure that small business owners were protected and encouraged to run their enterprises comfortably. She also emphasised the importance of putting the Bill into action after it had been approved by the parliament.
Speaking to the workshop, Khashi-ur-Rehman, Additional Secretary, BOI, said that experts from various sectors had been invited in order to review the main sections of the Asaan Karobaar Law, its advantages, and obstacles.
The Asaan Karoobar Bill faces a number of difficulties, some of which were previously mentioned by Director General (Reforms), BOI, in his opening remarks. He listed these difficulties as being limited access to capital, a lack of skilled labour, inadequate infrastructure, and an unstable business environment.
The proposed Law will be tabled in Parliament by the end of this month after the Board of Investment (BOI) has taken into account the participants’ insightful ideas.
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