Fozia Azam

The ‘Zero Time to Start’ (ZTTS) policy aims to create a more favorable investment environment for startups in Pakistan by eliminating bureaucratic barriers and facilitating entrepreneurs to enter the market and launch their ventures, said Ambreen Iftikhar, Additional Secretary Board of Investment (BOI), while talking to WealthPK. She said the policy was part of the government's commitment to promote entrepreneurship and innovation, especially among women, as encouraging female entrepreneurship stimulates economic growth of the country.

Ambreen was of the view that the policy will enable entrepreneurs to start their businesses immediately and focus on growing their ventures instead of dealing with unnecessary red-tape, as they will no longer have to wait for months to register their companies or obtain licenses and permits. According to the BOI additional secretary, the proposed policy will create an ecosystem for startups that will help remove undue hurdles in starting a business.

This initiative will serve as a catalyst for investment in Pakistan and encourage more young entrepreneurs to explore the country's potential, she opined. “By reducing the barriers and facilitating rapid entry into the market, the move is expected to contribute to the growth of economy and help realize its potential as a regional hub for innovation and entrepreneurship,” she said. “This initiative will have a positive impact on the startup community in the country, which has long struggled with bureaucratic hurdles, regulatory barriers and other challenges.

Experts believe that the elimination of these obstacles will enable startups to enter the market more easily, drive innovation and create jobs,” Ambreen added. The proposed policy follows a series of measures to encourage investment and promote economic growth, including the Special Technology Zone (STZ) and National Incubation Center (NIC), to support startups and foster entrepreneurship in the country. The National Incubation Center provides incubation and acceleration to foster growth in the startup ecosystem of the country and enable startups to grow in the right direction.

Credit : Independent News Pakistan-WealthPk