BOI chalks out plan to implement reforms agenda

September 13, 2018: The Board of Investment (BOI) has planned to start implementing government’s reforms agenda to improve efficiencies of the institution to attract and announce more facilities for investors.

Work has been started in different areas for achieving the targets of reforms agenda by enhancing the capacity of the institution for competitiveness, a senior official of BOI told APP on Thursday.

He said that under the plan, the BOI will further simplify registration system of new companies besides normalizing the documentation process of visas for foreign investors.

He said that the Board will enhance its complaint management mechanism and develop feedback loops for improving capacity of system. He added new public awareness drive is being designed for business registration in all provinces.

He said the board will establish an e-payment system for investors enabling them to have facility of online transactions by consolidating all payments. He said that there is a plan for complete automation of property registration process including online verification of title search to making information publicly available under new system.

He said that the institute will present annual report on ease of doing business by October 31, 2018 for facilitation and providing conducive business environment in the country.

He said that Integrate Web Based One Customs has introduced by the Federal Board of Revenue (FBR) for filing Goods Declarations (GDs) with banks for E-Payments of duty and taxes.

“We have also competed development of standardized by-laws between LDA and LG&CD/MCL in line with best international practices to improve business environment.”

(APP)