The federal cabinet has approved 170 amendments to the Companies Act, 2017, and a bill on the changes has been sent to Parliament. Haroon Akhtar Khan, Adviser to the Prime Minister on Industries and Production, said this at a press conference in Islamabad on Friday, held alongside the Chief Minister of Gilgit-Baltistan. The Companies Act is the main law that governs how companies are registered and run, so the amendments touch the basic steps of starting and operating a business.
The government says it is working to ease doing business in Pakistan by removing rules that are no longer needed. The 70-75 percent figure refers to what reform proposals from various institutions recommend eliminating on average. It is not a count of rules already removed.
What the government says has been done
Khan said the government is reviewing the regulators, laws and rules that affect businesses across the country, and that about 60-70 percent of the overall work is complete. He said that over 78 years, laws had been added to meet different needs, and that over time they produced overlapping requirements that made operating harder. He added that the complexity of the regulatory framework had been one of the main reasons foreign investors were held back.
Khan said Prime Minister Shehbaz Sharif is overseeing the reform agenda personally and holds review meetings every two weeks. Some proposed reforms have already started, while others are still being developed. The adviser also linked the reforms to a proposed AsaanKarobar Act, which he said would simplify procedures, reduce compliance costs and create a more predictable framework for investors.
Inspections and a single-window portal
Khan said businesses often face several inspections from different departments, including those responsible for labour, environmental protection, fire safety, buildings and boilers. He said these overlapping visits can disrupt operations and add costs that could be avoided. The reforms, he said, would bring more transparency and consistency to inspections while keeping essential safeguards.
The government has also outlined an integrated, single-window digital portal. Under the plan, businesses could submit applications and deal with provincial authorities and regulatory bodies through one point of access. No start date for the portal was announced.
Benchmarks, sector reviews and next steps
Khan said the government studied regulatory systems in Delaware in the United States, the United Kingdom and Canada as benchmarks. It has also brought in a senior international consultant with experience in regulatory reform across 135 countries. Reviews are underway in dairy, maritime, beverages, oil refineries, pharmaceuticals and restaurants to find redundant requirements.
The adviser said federal reforms are being aligned with those of the provinces, Gilgit-Baltistan and Azad Jammu and Kashmir. In his words, the aim is to make investment easier, reduce the cost of doing business and restore confidence among domestic and foreign investors. The next formal step is the bill now before Parliament.
Aasan alfaaz mein
Federal cabinet ne Companies Act, 2017 mein 170 tabdeeliyon ki manzoori di hai, aur iska bill Parliament ko bheja gaya hai. Government ka kehna hai ke bohat se ghair zaroori qawaneen aur zaabte khatam kiye jayenge, taake karobar asaan ho. Business walon ke liye iska matlab kam dafter ke chakkar aur inspections mein behtari ho sakti hai, lekin zyadatar kaam abhi jaari hai.
