'Regulatory maze blocks investment'

At an IBA Karachi seminar on Thursday, experts said Pakistan’s investment and innovation prospects remain limited by complex rules, slow procedures and overlapping oversight. Scott Jacobs said 557 reforms had been approved under the Board of Investment’s Regulatory Guillotine and SMART initiative, but argued that regulators must shift towards enabling businesses rather than mainly controlling them.

Speakers also pointed to outdated rules, including the foreign exchange manual, and duplicated requirements across government agencies as obstacles for businesses and foreign investors. Pakistan Business Council CEO Javed Kureishi said such rules can deter investment, while FBR Member Ambreen Iftikhar called for better coordination among agencies; panellists also urged closer cooperation between universities, policymakers and businesses to shape practical reforms.