Special Assistant to the Prime Minister on Industries and Production, Mr. Haroon Akhtar Khan, held a meeting today with Mr. Scott Jacob and a delegation of the Board of Investment (BOI).
The meeting focused on proposals for regulatory reforms, licensing procedures, NOCs, and amendments to the Companies Act.
Mr. Haroon Akhtar Khan assured that the SECP and BOI will soon complete reform measures for unlisted companies, while the rules and regulations for listed companies will also be reviewed on priority. He emphasized the need for benchmarking listed company regulations on the least regulated model.
Highlighting the importance of investor confidence, the SAPM stated that restoring trust in the Pakistan Stock Exchange is essential to addressing issues such as insider trading.
On foreign exchange reforms, Mr. Khan said that the government will engage with stakeholders, including the Pakistan Business Association and the State Bank of Pakistan, to advance the reform process. He further added that the next reform package will include measures on foreign exchange and double taxation.
The SAPM underscored the need for separate legislation to promote venture capital in Pakistan and noted that work is already underway on reforms to the Companies Act and regulations governing listed companies. He also stressed that a bill to decriminalize business laws will be tabled in Parliament, and unnecessary NOCs will be abolished to facilitate businesses.
