World Bank supports simpler regulations

The Special Investment Facilitation Council (SIFC) and the World Bank on Thursday discussed ongoing initiatives to improve Pakistan's business environment, streamline regulatory processes and facilitate private-sector activity. The discussion took place during a meeting between SIFC Secretary Jameel Ahmad Qureshi and a World Bank Group delegation, according to a press release. The meeting focused on the Asaan Karobar Framework, Regulatory Registry and Pakistan Business Portal, which were being pursued to simplify regulatory processes, improve coordination among relevant institutions, reduce compliance burden and make it easier for businesses to engage with the government. The Asaan Karobar Framework provides a structured approach towards simplifying business-related regulations and improving the overall ease of doing business. The Regulatory Registry is aimed at creating greater clarity and accessibility regarding applicable regulatory requirements, while the Pakistan Business Portal is designed to facilitate businesses through a more coordinated and accessible interface with relevant government institutions. The World Bank delegation appreciated SIFC's inclusive approach, particularly its engagement with provincial governments, and acknowledged the importance of coordinated efforts to improve the regulatory and business environment. The World Bank assured the SIFC of its continued support for initiatives aimed at strengthening business facilitation and advancing regulatory improvements.