Govt moves to simplify business laws, abolish unnecessary NOCs

MG News | September 24, 2025 at 10:47 AM GMT+05:00

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September 24, 2025 (MLN): Regulatory reforms and investor confidence remained at the center of discussions during a meeting between Special Assistant to the Prime Minister on Industries and Production Haroon Akhtar Khan, Board of Investment (BOI) officials, and Scott Jacob.

The meeting focused on simplifying licensing procedures, abolishing unnecessary NOCs, and amending the Companies Act to facilitate businesses.

Khan assured that the SECP and BOI will soon finalize reforms for unlisted companies, while rules for listed firms will be reviewed on priority, with an aim to benchmark them on the least regulated model.

He stressed that restoring trust in the Pakistan Stock Exchange is essential to address issues such as insider trading.

On foreign exchange, the SAPM said the government will work with stakeholders, including the Pakistan Business Association and the State Bank of Pakistan, to shape the next reform package, which will also address double taxation.

He further emphasized the need for separate legislation to promote venture capital and confirmed that a bill to decriminalize business laws will be tabled in Parliament.

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