The federal government has approved 170 Companies Act amendments to simplify company registration and business operations, and the bill has been forwarded to parliament. Haroon Akhtar Khan, the Prime Minister's adviser on industries and production, announced the changes at a news conference on Friday, alongside Gilgit-Baltistan Chief Minister Amjad Hussain. The Companies Act 2017 is the main law governing how companies are registered and run in Pakistan, and the government says the amendments will modernise it.
What the amendments are meant to do
Mr Khan said the complexity of the regulatory framework had been a major reason foreign investment was discouraged in Pakistan. He said laws had been added over the past 78 years, and over time unnecessary and overlapping requirements had made it hard for businesses to operate efficiently. The stated aim is to cut compliance costs, meaning the time and money businesses spend meeting legal and regulatory requirements.
Mr Khan said the government studied regulatory systems in Delaware in the United States, the United Kingdom and Canada as benchmarks. He said a wider review of regulators and of laws affecting businesses was under way in sectors including dairy, maritime, beverages, oil refineries, pharmaceuticals and restaurants. He put overall progress at about 60 to 70 per cent, and said reform proposals from various institutions recommend eliminating, on average, 70 to 75 per cent of unnecessary or duplicative regulations.
Inspections, a single portal and the Asaan Karobar Act
Mr Khan said businesses often face multiple inspections from departments responsible for labour, environmental protection, fire safety, buildings and boilers. He said overlapping procedures can disrupt operations and create avoidable costs. The proposed reforms, he said, would bring more transparency and consistency to inspections while keeping essential regulatory safeguards.
The adviser also outlined an integrated, single-window digital portal where businesses could submit applications and connect with provincial authorities and regulatory bodies. The aim is to reduce the need to visit several departments to complete one process. He also referred to the proposed Asaan Karobar Act, a law meant to align the business environment with international best practices, and said a senior international consultant with experience in regulatory reform across 135 countries has been engaged to support the work.
What happens next
The Companies Act amendments are now with parliament, and no effective date has been confirmed. Mr Khan said federal reforms are being coordinated with the provinces, Gilgit-Baltistan and Azad Jammu and Kashmir, so that rules stay 'aligned' across the country. He said the goal is to make investment easier, reduce the cost of doing business and restore the confidence of domestic and foreign investors.
Aasan alfaaz mein
Federal cabinet ne Companies Act mein 170 tabdeeliyan manzoor ki hain, aur bill parliament ko bhej diya gaya hai. Maqsad company registration asaan karna, compliance ke kharche kam karna aur karobar ko simple banana hai. Abhi in tabdeeliyon ki effective date tay nahi hui hai. Aam logon ke liye iska matlab hai ke karobar shuru karna aasan ho sakta hai, lekin ye tabdeeliyan qanoon banne ke baad hi lagu hongi.
