PM approves setting up of steering committee on PRMI

ISLAMABAD: Prime Minister Imran Khan  Monday approved establishment of a steering committee on Pakistan Regulatory Modernization Initiative (PRMI) to ease the process of registration of businesses by simplifying its various stages including registration, permit and No Objection Certificates.

The Prime Minister took the decision while chairing a meeting on PRMI here at the PM Office.

The committee will work under the supervision of PM's Advisers on Establishment and Commerce Shehzad Arbab and Abdur Razak Dawood, respectively.

The members of the committee include the Secretary Commerce, Chairman FBR, Chairman Stock Exchange of Pakistan, Chairman Board of Investment, President Federation of Pakistan Chambers of Commerce and Industry, President of Chambers of Commerce of Lahore, Karachi and Faisalabad and representatives of Pakistan Business Council.

The Prime Minister said the requirement of NOCs and lack of automation process had affected the small and medium businesses.

He said the difficult process also paved way for corruption, besides discouraging foreign investment.

He termed PRMI an important part of the government's reforms agenda, adding that improvement in the regulatory process was meant to facilitate the business community.

PM's Adviser on Establishment Shehzad Arbab in a detailed briefing on PRMI said the Initiative was taken for the very first time in the country's history with consultation of provinces which would ensure mapping, rationalization, modernization and automation.

It will not only check corruption, but would also facilitate business community by promoting automation, he added.

The meeting was attended by PM's Adviser for Establishment Muhammad Shehzad Arbab, Commerce Adviser Abdur Razak Dawood, Adviser on Finance Dr Abdul Hafeez Sheikh, PM's Special Assistant on Information Dr Firdous Ashiq Awan, Special Assistant Yousaf Baig Mirza, Chairman Federal Board of Revenue Shabbar Zaidi and other officials.