Latest news with #CCoRR
Express Tribune
2 days ago
- Business
- Express Tribune
Cabinet body okays 104 business reforms
Listen to article The Cabinet Committee on Regulatory Reforms (CCoRR), chaired by Federal Minister for Investment Qaiser Ahmed Sheikh, concluded a series of three meetings to review the Regulatory Reform Package-01 submitted by the Board of Investment (BOI). According to an official statement on Thursday, the meetings marked a key milestone in the government's effort to modernise Pakistan's regulatory environment in line with the prime minister's directives. The BOI's reform package included 136 proposals aimed at reducing compliance burdens, eliminating outdated procedures, and improving the ease of doing business. The package focused on streamlining federal-level Registrations, Licenses, Certificates and Other Permits (RLCOs) and modernising the Companies Act, 2017 for unlisted companies. During the meetings, the committee reviewed all 136 proposals in detail. A sub-committee led by Haroon Akhtar Khan, Special Assistant to the Prime Minister for Industries and Production, was formed to consult on the Companies Act with the Securities and Exchange Commission of Pakistan (SECP) and other stakeholders. Out of 136 proposals, 104 reforms were endorsed for implementation. These include the removal of 19 redundant regulatory requirements and streamlining of 57 procedural steps through simplification, modernisation, and digitalisation. Once implemented, the approved reforms are expected to deliver significant cost savings, shorten approval timelines, and create a more transparent and business-friendly regulatory ecosystem. The committee directed relevant ministries and departments to implement the reforms within set deadlines, up to 90 days depending on each reform's complexity. BOI will coordinate implementation and regularly report progress to the committee. The committee noted that more reform packages are in development, targeting key sectors of the economy. These future reforms aim to reduce compliance pressures and create space for businesses to invest and grow locally and globally.
Business Recorder
2 days ago
- Business
- Business Recorder
‘Regulatory Reform Package-01': CCoRR undertakes comprehensive review of 136 proposals
ISLAMABAD: The Cabinet Committee on Regulatory Reforms (CCoRR), chaired by the Federal Minister for Investment, Qaiser Ahmed Sheikh, concluded a series of three meetings held to review the Regulatory Reform Package-01, prepared and submitted by the Board of Investment (BOI). These meetings marked a key milestone in the government's efforts to simplify and modernise Pakistan's regulatory landscape in line with the directives of the prime minister. The reform package, formulated by BOI's reform team, comprised of 136 targeted proposals aimed at reducing compliance burden, eliminating outdated procedures, and enhancing the ease of doing business. The package focused on two principal areas: the streamlining of federal-level Registrations, Licenses, Certificates and Other Permits (RLCOs), and modernisation of the Companies Act, 2017 for unlisted companies. CCoRR begins deliberations on Regulatory Reforms Package 01 Over the course of the three meetings, the committee undertook a comprehensive review of 136 proposals. Notably, a sub-committee under the convenorship of Haroon Akhtar Khan, Special Assistant to the Prime Minister for Industries and Production, was constituted to lead consultations on the Companies Act in coordination with the Securities and Exchange Commission of Pakistan (SECP) and other stakeholders. It is pertinent to note that out of 136 proposed reforms, 104 of proposals have been endorsed by the Cabinet Committee for implementation. These include the elimination of 19 redundant regulatory requirements, streamlining of 57 procedural requirements that includes simplification, modernisation and introduction of digital mechanisms to enhance transparency and service delivery. Once implemented, the endorsed reforms are expected to result in substantial cost savings, reduced approval timelines, and a more business-friendly regulatory ecosystem. The committee issued clear directives to relevant federal ministries and departments to ensure time-bound implementation of the approved reforms, with timelines upto 90 days based on the complexity of each reform measure. The BOI will continue to coordinate and monitor implementation progress and report back to the Cabinet Committee accordingly. It was noted that additional reform packages are in the pipeline, targeting key areas across different sectors of the economy. These upcoming packages are aimed to reduce the compliance burden on businesses and create the space they need to invest, grow and compete more effectively in local and global markets. The federal minister for investment commended the dedicated efforts of the BOI's reform team and acknowledged the constructive engagement of regulatory bodies in furthering this vital national reform agenda. The conclusion of this review process reflects the government's strong commitment to regulatory modernisation and its resolve to foster an enabling environment for business and investment in Pakistan. Copyright Business Recorder, 2025
Business Recorder
05-07-2025
- Business
- Business Recorder
CCoRR begins deliberations on Regulatory Reforms Package 01
ISLAMABAD: The second meeting of the Cabinet Committee on Regulatory Reforms (CCoRR) was held Friday under the chairmanship of Qaiser Ahmed Sheikh, federal minister for investment. The session marked the beginning of deliberations on Regulatory Reforms Package 01, a key initiative aimed at enhancing the ease of doing business and modernising regulatory practices in Pakistan. The reforms team from the Board of Investment (BOI), led by Additional Secretary Zulfiqar Ali, presented a comprehensive set of reform proposals. Senior officials from key federal ministries and regulatory authorities were also in attendance and provided valuable input during the discussions. The committee reviewed 28 reform proposals in detail, all of which fall under Regulatory Reforms Package 01, focused on simplifying and streamlining Registrations, Licenses, Certificates, and Other Permits (RLCOs). These proposals are designed to eliminate procedural redundancies, digitise approval mechanisms, and abolish outdated or overlapping regulatory requirements. Addressing the meeting, Federal Minister Qaiser Ahmed Sheikh emphasised that regulatory reforms are the top priority of the Prime Minister. He directed all relevant ministries and departments to expedite implementation and ensure timely progress reporting. He also expressed appreciation for the proactive and constructive participation of all stakeholders. The Cabinet Committee will continue its review of the remaining proposals under Package 01 in forthcoming sessions as part of the government's broader agenda to facilitate investment and economic growth. Copyright Business Recorder, 2025
Express Tribune
08-05-2025
- Business
- Express Tribune
Sector-wide reforms initiated
The Cabinet Committee on Regulatory Reforms (CCoRR), in its first meeting at the Board of Investment, approved wide-ranging reforms across multiple sectors — including DRAP, NHA, PHA, FSC&RD. photo: file Listen to article The government is going to introduce a set of reforms in different sectors of the country to ensure ease of doing business. The Cabinet Committee on Regulatory Reforms (CCoRR) in its recent meeting agreed to a set of reforms to be introduced in the coming days. The first meeting of the Cabinet Committee on Regulatory Reforms (CCoRR) was held at the Board of Investment on May 6, 2025, in line with Prime Minister Shehbaz Sharif's vision to streamline Pakistan's regulatory landscape and improve the ease of doing business. The reforms are going to be introduced in multiple sectors including the Drug Regulatory Authority of Pakistan (DRAP), National Highway Authority (NHA), Pakistan Halal Authority (PHA), and the Federal Seed Certification and Registration Department (FSC&RD). One key proposal calls for DRAP to sign a Memorandum of Understanding (MoU) with the Intellectual Property Organisation of Pakistan (Pak-IPO) to ensure real-time data sharing related to trademark registration. Currently, a lack of coordination between the two entities has resulted in overlapping brand name claims. The proposed alignment would be in line with international best practices. The committee has also agreed that DRAP should adopt the principle of "obtain once, use multiple times" to eliminate the duplication of documents in its licensing processes. Additionally, the committee has directed the authority to prescribe fixed timelines for the evaluation and issuance of licenses, certificates, and permits. The cabinet body has also directed Islamabad Healthcare Regulatory Authority (IHRA) to outsource licensing and registration inspections of healthcare facilities to accredited third-party inspectors (TPIs) in a bid to reduce procedural delays. Mandatory inspections, which are currently handled in-house, have been cited as time-consuming and inefficient. In another move, IHRA has been directed to digitise its complaint management system to include businesses alongside patients, ensuring a more comprehensive and tech-enabled grievance redressal mechanism. Under the reforms, the PHA has been directed to revise its certification fee structure, which currently imposes a 0.025% turnover fee on businesses. The fee has been labelled as an indirect tax that discourages growth and hurts export competitiveness. The committee has agreed to exempt exporters from this fee and to automate and integrate the entire Halal certification process with the Pakistan Single Window (PSW) for enhanced efficiency. The committee has agreed to several reforms in Islamabad Capital Territory (ICT) under the Labour Welfare Department (LWD) and the Registrar of Firms (ROF): Currently, there is no defined timeline for boiler inspections during manufacturing unit registration. The committee has agreed to set a clear timeline, similar to India's 30-day inspection requirement. The factory registration process remains fully manual, requiring physical visits, extensive paperwork, and repeated follow-ups. ICT has proposed streamlining and digitising the system. CCORR is expected to review implementation strategy and financial requirements. The partnership firm registration process currently demands in-person appearances from all partners and witnesses. Authorities now proposed moving to a fully digital registration process. CCORR may direct ICT to set a specific implementation timeline. A proposal has been made to extend the validity of trade licenses, which are currently valid for only one year. Currently, trade licenses require annual renewals and mandatory inspections. The proposal involves extending the validity to three years to reduce the compliance burden. CCORR may issue formal instructions to implement this change.
