Pakistan advances digital reforms with BOI–SECP integration MoUs

August 21, 2025 (MLN): The Board of Investment (BOI) on Thursday signed Memorandums of Understanding (MoUs) with multiple federal and provincial regulators for integration with the Securities and Exchange Commission of Pakistan’s (SECP) eService Portal.

The agreements were inked with the National Electric Power Regulatory Authority (NEPRA), Pakistan Electronic Media Regulatory Authority (PEMRA), Sui Northern Gas Pipelines Limited (SNGPL), Drug Regulatory Authority of Pakistan (DRAP), Islamabad Electric Supply Company (IESCO), Power Information Technology Company (PITC) and Punjab Revenue Authority (PRA).

The ceremony was chaired by Federal Minister for Investment Qaiser Ahmed Sheikh and attended by senior representatives of the participating organizations.

In his welcome address, BOI Director General Mahmood Tufail said the organization had conducted an IT readiness survey, identifying 16 agencies for integration with SECP.

He emphasized that all agencies would eventually be connected to the Pakistan Business Portal, a World Bank funded single window digital platform for businesses. He reaffirmed BOI’s commitment to regulatory reform and investor facilitation.

Federal Minister Sheikh termed the initiative a landmark step in Pakistan’s digitization process, noting that integration across federal and provincial regulators would reduce inefficiencies, eliminate duplication and ensure transparency.

He stressed the importance of creating a business-friendly environment to improve Pakistan’s regional competitiveness in attracting investment.

He also highlighted the development of Business Facilitation Centers (BFCs) as one-stop service points for investors nationwide.

Additional Secretary BOI Zulfiqar Ali stated that BOI is advancing the regulatory reform agenda under the Pakistan Regulatory Modernization Initiative (PRMI) to modernize frameworks and build investor confidence.

Representatives of participating organizations commended BOI’s leadership in bridging institutional gaps and promoting digital governance. PEMRA’s chairman acknowledged Pakistan’s delay in adopting digital technologies but welcomed the initiative as a timely move.

SECP’s commissioner noted that 99.9% of company registrations are now online with further reforms including AI-enabled systems underway.

The CEO of DRAP said integration would reduce delays and prevent forgery, sharing that 70% of DRAP processes are now digitized and medical device approval timelines have been cut to 20 days.

A representative of SNGPL highlighted efficiency gains from digital monitoring systems for its 7 million consumers, while IESCO emphasized benefits for industrial users requiring large connections. PRA’s member praised its inclusion in the reform process and pledged commitment to digital taxpayer facilitation.

DG BOI Mahmood Tufail reiterated that additional regulators would be integrated with SECP in the coming phases, following SECP’s consent.

The ceremony concluded with appreciation from all stakeholders for BOI’s coordination and vision. Participants recognized integration with SECP’s eService Portal as a critical step towards eliminating manual processes, enhancing transparency, and improving Pakistan’s business environment.

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