World Bank backs SIFC's regulatory reform drive

Mettis Global reported that the Special Investment Facilitation Council (SIFC) and the World Bank held talks on Thursday about reforms aimed at easing business operations in Pakistan. SIFC Secretary Jameel Ahmad Qureshi met a World Bank Group delegation, and the Bank said it would keep backing efforts to facilitate companies and upgrade rules. The discussions centred on three initiatives: the Asaan Karobar Framework, the Regulatory Registry and the Pakistan Business Portal.

The Asaan Karobar Framework lays out a structured path for streamlining rules that affect companies. The Regulatory Registry is intended to make requirements clearer and simpler to locate, while the Pakistan Business Portal is designed to offer companies a more coordinated and accessible channel for dealing with state institutions. Talks also covered SIFC's whole-of-government method, which links federal, provincial and sectoral stakeholders to coordinate reform implementation.

The World Bank team commended SIFC for an inclusive method, especially its work alongside the provinces. SIFC said it will keep coordinating government bodies and backing measures that cut procedural complexity. SIFC said these measures would bring simpler rules, stronger coordination among agencies and quicker access to facilitation for companies and investors.