Business

Regulatory Modernization Initiative Strategy reforms launching lauded

Regulatory Modernization Initiative Strategy reforms launching lauded

Regulatory Modernization Initiative Strategy reforms launching lauded.

Adviser to Prime Minister on Commerce and Investment, Abdul Razak Dawood on Wednesday appreciated the Board of Investment (BoI) for launching Regulatory Modernization Initiative Strategy (PRMI) reforms.

Regulatory Modernization Initiative Strategy reforms launching lauded

The BoI launched it for enhancing the Doing Business (EODB) at gross root level industries.

It began it to further strengthen the business atmosphere and reduce compliance burden,.

Furthermore, it also aims to make the regulatory environment business friendly and provide EODB to local and foreign investors.

The adviser said this on his official twitter account.

He further underlined these reforms also effective on the Economic Zone Management System (SEZMIS) and Investor Relationship Management System (IRMS) with Public and Private Partnership.

He said that all the stakeholders need to join hands for ensuring the success of digital reform and it will benefit the business community.

Razak Dawood also congratulated the BOI team for their efforts and commitment.

He said that the Ministry of Commerce stay glad to share that the State Bank of Pakistan (SBP) proposed revision in the regulatory framework for exporters.

The SBP did so to facilitate them with exports goods through digital platforms such as Amazon, Ebay and Ali Baba under B2B and B2C.

Moreover, he said this model will aim at promoting ease of doing business, especially transaction issues.

He thanked SBP for their swift response and contributions.

GTV

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