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Introduction of PRMI reforms to boost Ease of Doing Business

Proposed revision in the regulatory framework for exporters will facilitate them with exports goods through digital platforms such as Amazon, eBay and Ali Baba under B2B and B2C.

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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 for enhancing the Doing Business (EODB) at gross root level industries.

The BOI has launched Regulatory Modernization Initiative Strategy (PRM) reforms to further strengthen the business atmosphere and reduce compliance burden, aim to make the regulatory environment business-friendly and provide EODB to local and foreign investors, the adviser said this on his official Twitter account.

The Adviser said that these reforms are also effective on the Economic Zone Management System (SEZMIS) and Investor Relationship Management System (IRMS) with Public and Private Partnership.

Read more: BOI emphasizes to expedite relocation of Chinese Industry in SEZs

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

“I also congratulate the BOI team for their efforts and commitment “he said.

Razak Dawood said that the Ministry of Commerce is glad to share that the State Bank of Pakistan (SBP) proposed revision in the regulatory framework for exporters to facilitate them with exports goods through digital platforms such as Amazon, eBay and Ali Baba under B2B and B2C.

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

“I would like to express gratitude to SBP for their swift response and contributions.

BOI launches online portal

The three platforms — Pakistan Regulatory Modernization Initiative Strategy (PRMI), Special Economic Zone Management System (SEZMIS) and Investor Relationship Management System (IRMS) — were launched by World Bank Country Director Najy Benhassine, British High Commissioner to Pakistan Christian Turner and Senior Private Sector Specialist IFC Charles Schneider respectively.

This platform would give operators and enterprises interested in Special Economic Zones (SEZs) in Pakistan a chance to register and have their applications processed quickly through online portals.

Read more: An interesting plan to ‘sell Pakistan to the world’ – Chairman BOI

The launch event was attended by Advisor to the Prime Minister on Institutional Reforms and Austerity Government of Pakistan, Dr. Ishrat Husain, Senior Country Manager IFC, Nadeem Siddiqui, Country Director World Bank Group, Najy Benhassine, British High Commissioner to Pakistan, Christian Turner, and Federal SeBcretary BOI, Fareena Mazhar, along with government officials and private sector representatives.

APP with additional input by GVS News Desk

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