Ayesha Saba

The proposed Islamabad Business Facilitation Centre is a commendable initiative aimed at enhancing the business environment in Pakistan, but experts link its success to regulatory digitisation. They note that effective technology integration will streamline processes, ensuring transparency, efficiency and a more investor-friendly climate in the country.

Talking to WealthPK, Majid Shabbir, a former adviser at Islamabad Chamber of Commerce and Industry (ICCI), said that in today’s fast-paced business environment, entrepreneurs could not afford lengthy delays caused by manual processes. He argued that integrating online services, from registration to compliance tracking, would not only help reduce human intervention but also minimise the opportunities for corruption and delays.

Shabbir pointed out that several countries have successfully implemented digital business portals that allow companies to register and obtain necessary permits within hours, rather than weeks. “If Pakistan wants to attract both local and foreign investors, it must adopt similar practices,” he added. He also emphasised the importance of cybersecurity and data protection to build trust among users of the facilitation centre.

However, he cautioned that digital transformation must be inclusive, ensuring that small and medium enterprises (SMEs), particularly those with limited access to technology, are not left behind. “The government should provide training and support for SMEs to navigate digital systems.” Meanwhile, an official from the Board of Investment told WealthPK on condition of anonymity that the establishment of Business Facilitation Centre (BFC) would go a long way in improving efficiency for companies navigating the various regulatory processes.

He added that the BOI was committed to positioning Pakistan as a premier investment destination by cultivating a business-friendly ecosystem for investors.“By simplifying administrative procedures, modernising regulatory frameworks, and streamlining licensing processes, the BOI aims to eliminate bureaucratic inefficiencies and expedite decision-making,” he stated. The official further emphasised that reducing administrative bottlenecks sends a strong signal to potential investors, reinforcing Pakistan’s commitment to fostering a conducive and transparent business environment.

“To enhance ease of doing business, key regulatory agencies, including the Federal Board of Revenue, the Securities and Exchange Commission of Pakistan, and others, will provide integrated services under a single platform, ensuring a seamless experience for investors.” The BOI has signed a Service Level Agreement (SLA) with all federal government departments to enhance the efficiency and accessibility of business-related services for entrepreneurs and enterprises in Pakistan.

The Business Facilitation Centre will oversee 341 regulatory, licensing, certification, and other (RLCO) requirements across 22 ministries and 41 departments. Additionally, each department will designate subject matter experts to be stationed at the centre to ensure seamless service delivery.

Credit: INP-WealthPk