The Cabinet Committee on Regulatory Reforms (CCoRR), chaired by Federal Minister for Investment Qaiser Ahmed Sheikh, convened a meeting on Friday to review the third quarterly Regulatory Reform Package, prepared and submitted by the Board of Investment (BOI). The session marked another step in the government’s ongoing efforts to modernize Pakistan’s regulatory framework in line with directives of the Prime Minister.
The package, developed by BOI’s reform team, outlined a forward-looking agenda to enhance transparency, streamline processes, and improve the ease of doing business. Among the key reform areas was the formulation of the Regulatory Governance Strategy 2025–2030, which aims to establish a modern legal and regulatory system, including the creation of a Pakistan National Legal Registry (PLR). The package also proposed simplification of business bank account opening through online onboarding for low-risk businesses and the launch of the Asaan Business Bank Account (ABA) for small and medium enterprises (SMEs).
Another major component was the transition from fragmented district registries to a centralized National Business Registry managed by the Securities and Exchange Commission of Pakistan (SECP), alongside the repeal of the outdated Partnership Act, 1932. In addition, the package called for a risk-based, technology-enabled framework for security clearance of foreign investors, designed to ensure transparency and statutory timelines. The review of the Companies Act, 2017 was also highlighted, with proposals to modernize requirements for both unlisted and listed companies by removing outdated provisions and aligning with international best practices.
During the meeting, the Committee reviewed the reform proposals in detail. All reforms were endorsed and agreed upon by regulators for implementation, with directions issued to relevant ministries and departments to ensure time-bound execution.
The establishment of a centralized National Business Registry is expected to eliminate duplication across district registries, enabling firms to complete registration in fewer steps and within a shorter timeframe, while ensuring nationwide recognition of their legal status. The modernized, risk-based security clearance system will provide foreign investors with predictable timelines, reducing uncertainty and enabling faster project initiation. Updates to the Companies Act are aimed at easing compliance for listed and unlisted companies by cutting administrative costs and improving corporate governance.
Federal Minister for Investment Qaiser Ahmed Sheikh praised the BOI’s reform team and acknowledged the constructive engagement of regulatory bodies. He emphasized that the conclusion of the review process demonstrates the government’s strong commitment to regulatory modernization and its resolve to foster an enabling business environment with faster approvals, reduced compliance costs, and greater transparency.
