Govt unveils 170 tweaks to Companies Act

The federal cabinet has approved about 170 changes to the Companies Act 2017, with the bill now sent to parliament, Dawn reported. Adviser to the Prime Minister on Industries and Production Haroon Akhtar Khan said the proposals are intended to make company registration easier and reduce the costs and procedural burden of running a business.

The government is also reviewing rules in sectors including dairy, maritime, beverages, oil refining, pharmaceuticals and restaurants. Khan said roughly 60-70 per cent of the wider reform effort was complete, while proposals from institutions suggested removing an average of 70-75pc of requirements considered unnecessary or duplicative. Planned measures include coordinating industrial inspections and creating a digital, single-window portal through which businesses can approach relevant authorities. The government says it is pursuing these changes with provincial and regional administrations to make regulations more consistent and support investment.