ISLAMABAD: The Pakistan Regulatory Modernization Initiative (PRMI) and its critical role in improving the nation’s regulatory environment were covered by the conference presenters.
According to a press release released here on Friday, representatives from all around Pakistan convened in Islamabad for an insightful seminar hosted by ReMIT to talk about the Pakistan Regulatory Modernization Initiative (PRMI) and how important it is to improving the regulatory environment in the nation.
Provinces and regions were able to present their regulatory reform initiatives, highlight their accomplishments, discuss obstacles, and lay out their future plans for the changes.
Dr. Sohail Rajput, Secretary of the Board of Investment, stressed the critical role that regulatory reforms have in maximizing governance frameworks and adjusting to shifting conditions.
According to him, the primary focus of Pakistan’s efforts to improve its investment climate is on lowering needless regulatory burdens and expediting corporate procedures at the province and municipal levels.
Speaking to the seminar attendees, Secretary Rajput thanked them for coming and emphasized the significance of the meeting, stressing the need to talk about the nation’s changing regulatory environment.
He emphasized that regulatory reforms have become increasingly important at a time of swift technological progress, changing economic environments, and changing social norms.
According to Secretary BOI, these kinds of reforms are thought to be essential for encouraging innovation, adjusting to shifting conditions, and guaranteeing the effective operation of the public and private sectors.
While Secretary Rajput acknowledged the hard work of provincial and regional governments over the previous year, he also praised the improvements brought about by corporate reforms across a range of economic sectors. In order to improve Pakistan’s investment climate, he emphasized the need to eliminate needless regulatory burdens and streamline business procedures at the province and municipal levels.
Each province and region had the chance to showcase their achievements in areas such as PRMI, noteworthy regulatory reform achievements, current difficulties, and future goals at the seminar.
Secretary Rajput emphasized that in order to create consistent best practices and guarantee regulatory coordination throughout Pakistan, provinces and regions must work together and share information.
Also Read: CPEC changing Pakistan’s IT sector“With continued support from our development partners like FCDO and ReMIT, I am confident that our collective efforts will make Pakistan an even more attractive destination for investment and business over the coming years,” stated Secretary Rajput.
In closing, he thanked everyone for their dedication to the regulatory reform effort and emphasized the Board of Investment’s continued function as a forum for substantive interaction between the federal and local governments.
“I am certain that this collaborative approach will significantly expedite the reform agenda and help us in attaining our economic objectives in a shorter period of time. Thank you all for your participation and commitment to this important agenda of regulatory reforms,” concluded Secretary Rajput.
This collaborative approach is expected to expedite the reform agenda, contributing significantly to the attainment of Pakistan’s economic objectives in a shorter period.
