Prime Minister, Muhammad Shehbaz Sharif on Tuesday amid chairing a review meeting directed the quarters concerned to strengthen communication between the government and investors, and accelerate the pace of digitization of the entire system of access to licensing and other services.
The prime minister chaired the review meeting on investment promotion in the country, a Prime Minister’s Office news release said.
Prime Minister Shehbaz Sharif underlined that the promotion of investment is the top priority of the government for economic development in the country, whereas relevant authorities should ensure provision of all necessary facilities to domestic and foreign investors to increase exports. He also directed that implementation of regulatory compliance should be made easier and affordable to promote investment. “Establishment of Special Investment Facilitation Council (SIFC) has increased investor confidence in the country,” the prime minister said.
The meeting was briefed on government measures to increase investment in the country.
The officials informed the forum that the share of Special Economic Zones remained at 3.7 percent in the country’s exports from July to March of the current fiscal year. However, the target has been set to increase the share of Special Economic Zones in the country’s exports to 8 percent by the fiscal year 2028.
The officials briefed that a business-ready action plan is being prepared in consultation with the provinces to promote investment, whereas to make it easier for investors and businessmen to obtain government permits, all services are being digitized, for which the Pakistan Regulatory Registry is being established.
“Currently, 21 Special Economic Zones are operational in the country and this number will increase to 26 by June 2026,” the officials told the forum. Under the Ease of Doing Business Act, red tape will be eliminated and the provision of digital services will provide further facilitation in investment, it added.
The meeting was attended by Federal Minister for Law and Justice Azam Nazir Tarar, Federal Minister for Economic Affairs Ahad Khan Cheema, Federal Minister for Information Technology and Telecom Shaza Fatima, Minister of State for Finance and Railways Bilal Azhar Kayani, Special Assistant to the Prime Minister Haroon Akhtar and relevant senior government officials.