Federal Minister for Board of Investment, Mr. Qaiser Ahmed Sheikh, chaired a meeting of the Cabinet Committee on Regulatory Reforms (CCoRR) to review the 5th Regulatory Reforms Package, aimed at improving the ease of doing business in Pakistan in line with the vision of Prime Minister Muhammad Shehbaz Sharif.
The meeting was attended by Federal Minister Mr. Jam Kamal Khan, Special Assistant to the Prime Minister (SAPM) Mr. Haroon Akhtar Khan, senior officials of the Board of Investment, members of the regulatory reform team, and relevant stakeholders.
The Committee undertook a detailed review of the 5th Regulatory Reforms Package, with particular focus on two key sectors: Fisheries & Aquaculture and Dairy & Beverages. Both sectors were identified as heavily regulated, with overlapping requirements at federal and provincial levels creating barriers to growth, investment, and exports.
During the discussion, it was highlighted that the fisheries sector alone is subject to 55 regulatory requirements involving 24 different departments, with 22 licenses and approvals requiring periodic renewals. The regulatory mapping exercise further revealed that businesses are required to submit 266 documents, with approximately 77 percent duplication across departments.
Federal Minister Qaiser Ahmed Sheikh observed that such an excessive regulatory burden is a key factor behind export constraints in the fisheries sector. He noted that despite earlier efforts during his tenure at the Ministry of Maritime Affairs, significant reforms are still needed to unlock the sector’s true potential.
SAPM Haroon Akhtar Khan emphasized that overlapping mandates and duplication of processes are major impediments and must be addressed through structural reforms. Federal Minister Jam Kamal Khan remarked that fisheries is a high-value niche market; however, compliance gaps persist despite heavy regulations, indicating systemic inefficiencies.
International expert Mr. Scott Jacobs highlighted that the current regulatory framework appears to be designed for the convenience of regulators rather than businesses and stressed the need to adopt international best practices such as one-window operations and further simplification.
The regulatory reform team identified major systemic issues, including duplication of requirements, entirely paper-based processes with minimal digitization, and the absence of central registration and data sharing among departments. Following extensive consultations with stakeholders, the Board of Investment proposed a series of reforms, including the elimination of redundant requirements, consolidation of multiple processes into simplified procedures, and digitization of key approvals. There was broad agreement among stakeholders on the need for simplification and digitization.
Certain policy matters were discussed in detail, including the ban on joint ventures in the Exclusive Economic Zone (EEZ). The Ministry of Maritime Affairs was unable to satisfactorily justify the continuation of this restriction. The Committee strongly supported the promotion of joint ventures, highlighting their importance in bringing foreign direct investment, technology transfer, and skills development. A consensus was reached to allow joint ventures subject to conditions such as majority Pakistani shareholding, use of Pakistani flag vessels, and ensured transfer of technology.
The Committee also discussed operational challenges, including boat registration involving multiple authorities, fishing permits, and berthing charges, and emphasized the need for their simplification. It was directed that all relevant federal and provincial stakeholders be notified and committees be constituted within 30 days to ensure timely implementation of the agreed reforms. The Committee stressed that implementation must be undertaken on a priority basis.
Highlighting the economic potential of the sector, participants noted that tuna exports alone represent an estimated $2 billion opportunity, underscoring the urgency of reforms. Discussion on the Dairy & Beverages sector was deferred to the next meeting for further deliberation.
All participants reiterated that the overarching objective of the reform agenda is to enhance ease of doing business, promote investment, and drive export-led growth in Pakistan. The Board of Investment reaffirmed its commitment to advancing regulatory reforms under the leadership of Federal Minister Qaiser Ahmed Sheikh to create a more business-friendly and competitive economic environment.
