Government of Pakistan has launched Asaan Karobar Program as part of SME Development Policy to lessen the compliance burden on businesses particularly for Small and Medium Enterprises (SMEs). Prime Minister desired Board of Investment to undertake regulatory Reforms and Guillotine in line with international best practices to identify regulatory obstacles for elimination, simplification and modernization of regulations at all three tiers of government i.e. Federal, Provincial & Local government.
The identification of cumbersome regulations is made through active involvement of the private sector, business associations, and chambers of commerce and industry. The proposals received are further examined and then suitable ones are shared with concerned department & agencies in the public sector. The relevant departments also carry out their own impact analysis, and then implement reforms by making suitable regulatory changes to eliminate, reduce or simplify the regulatory difficulties. It is first of its kind partnership between public and private sector to simplify the regulatory landscape and create a friendly environment to support the growth of businesses, particularly SMEs.
By end October 2021, 03 rounds of Regulatory Reforms and Guillotine have been launched by BOI and a total no. of 168 reform proposals have been taken up with federal and provincial departments of which 74 reforms been implemented. Regulatory ease in various economic sectors is also expected to enhance local and foreign investment and exports.