BoI Spearheads Unprecedented Coordination for Investment Reforms in Pakistan

Additional Secretary of BoI Advocates Sustained Collaboration for Impactful Reforms.

Islamabad: The Board of Investment (BoI), under the Prime Minister’s Office, orchestrated a pivotal gathering involving key federal departments, provincial and regional investment bodies, and related agencies to spearhead the Pakistan Regulatory Modernization Initiative (PRMI). The primary objective was to foster collaboration, share achievements and challenges in investment reforms, and establish a robust coordination mechanism for the uniform application of successful reforms across federal and provincial governments.

Chaired by the Secretary of BoI, the meeting saw the participation of senior representatives from all four provinces, two regions (GB and AJK), SECP, SMEDA, NITB, ICT Administration, and sector agencies such as DRAP. The FCDO-funded Revenue Mobilization, Investment, and Trade Programme partnered with BoI to facilitate this crucial gathering, bringing together key stakeholders after months of extensive exercises at both federal and provincial levels.

Dr. Sohail Rajput, Secretary BoI, underscored the significance of the coordination mechanism, emphasizing that participants identified valuable insights and quick wins by learning from one another. He commended the diverse contributions, noting that it wasn’t just Punjab and Sindh leading in reforms, but key strides were made by KP and Balochistan, offering replicable models for other regions.

Ambreen Iftikhar, Additional Secretary BoI, expressed full support for sustaining this collaborative initiative, highlighting that working in isolation has impeded progress on impactful reforms. The meeting concluded with the decision to formalize the coordination mechanism’s structure, specifying terms of reference (ToRs) to ensure consistency and sustainability. Regular coordination group meetings were agreed upon, encouraging members to share information and coordinate more frequently, fostering a culture of knowledge-sharing and cross-fertilization of ideas through regular communiques.

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This groundbreaking initiative signifies a united commitment to streamline investment reforms, fostering a conducive environment for economic growth and development across Pakistan’s diverse regions.