Guidance to support agencies develop and implement regulatory proposals within the framework of the Better Regulation Program under Pakistan Regulatory Modernization Initiative (PRMI).
Well-designed and efficiently administered regulation can play a critical role in delivering improved social and economic outcomes, including lower costs for consumers, safer and healthier communities, and higher living standards.
The Better Regulation Program guides the development, design and implementation of regulatory proposals in the public sector. Regulatory proposals involve new regulatory instruments or amendments to existing regulatory instruments. This includes legislation and regulation, and quasi-regulations.
The Federal Government has approval Regulatory Principles and Code of Practice to be followed by all Ministries / Divisions / Regulators performing any regulatory functions for businesses. All Ministries / Divisions / Regulators to follow the Regulatory Principles and Code of Practice while formulating new regulations.
For existing regulations, time period of six (06) months have been given by Federal Government for self-assessment to eliminate redundant and needless regulations and also simplify / modernize the cumbersome procedures. After the initial period of six (06) months, regulatory assessment / audit based on principle-based framework will be conducted by BOI through independent third parties and outcomes / recommendations will be placed before Federal Cabinet for consideration. The whole process will be carried out under supervision of Pakistan Regulatory Modernization Initiative (PRMI) Steering Committee with executive oversight by Prime Minister’s Office.
Better Regulatory Units have been established in following entities so far: