The federal government has approved 170 amendments to the Pakistan Companies Act 2017 and forwarded the bill to parliament, the adviser to the prime minister on industries and production said on Friday. Haroon Akhtar Khan made the announcement at a news conference in Islamabad, alongside Gilgit-Baltistan Chief Minister Amjad Hussain and members of his cabinet. The changes are meant to make company registration easier, cut compliance costs and make Pakistan more attractive to foreign investors. The Companies Act 2017 is the main law governing companies in Pakistan, and it replaced the Companies Ordinance 1984.
Why the government says the law needs changing
Khan said the 170 amendments to the Pakistan Companies Act 2017 are meant to modernise the country’s corporate regulatory framework. He said laws had been added over the past 78 years to meet different needs, and that “unnecessary complexities and overlapping requirements” had built up over time. In his view, this made it hard for businesses to operate efficiently and was a major reason foreign investment had been discouraged. The adviser said the amendments had been approved by the federal cabinet, and that the bill had been sent to parliament. Passage by parliament has not been reported yet.
A wider review of rules and inspections
Khan said regulatory reviews were under way in several sectors, including dairy, maritime, beverages, oil refineries, pharmaceuticals and restaurants. The aim is to identify redundant requirements, streamline procedures and remove burdens that do not serve public or economic interests. The government studied the systems of Delaware in the United States, the United Kingdom and Canada as benchmarks. He said about 60 to 70 per cent of the overall reform work is complete, and that reform proposals from various institutions recommend eliminating, on average, 70 to 75 per cent of unnecessary or duplicative regulations.
Khan also pointed to inspections. Businesses often face separate visits from labour, environmental protection, fire safety, building and boiler departments, and these can overlap and disrupt operations. He said the proposed reforms would bring more transparency and consistency to inspections while keeping essential safeguards. The adviser also outlined an integrated, single-window digital portal where businesses could deal with procedures in one place. The government has hired a senior international consultant with experience in regulatory reform across 135 countries, and says it is aligning federal and provincial rules, including in Gilgit-Baltistan and Azad Jammu and Kashmir.
Aasan alfaaz mein
Hukumat ne Companies Act 2017 mein 170 tabdeeliyan manzoor ki hain aur bill parliament ko bhej diya gaya hai. Maqsad company registration aasan banana, karobar ke kharche kam karna aur bahar ke sarmaya-kaaron ko Pakistan ki taraf rageb dilana hai. Parliament ki manzoori abhi tak reported nahi hui hai. Aam logon ke liye iska matlab hai ke agar yeh tabdeeliyan nafiz hoti hain to karobar shuru karna aur mukhtalif departments ki baar baar inspection ka masla kam ho sakta hai.
