The Prime Minister—Imran Khan headed a meeting on Wednesday in which it was decided that ease of doing business offices (EODB) would be opened by the government at the federal and provincial levels for eradicating the hindrances and for the facilitation of investors in running smooth business operations.
The decision was also taken that the prime minister would regularly be heading the EODB meetings besides the provincial chief ministers and chief secretaries.
The meeting was held at the Prime Minister’s Office for reviewing the progress and development on the improvement of Pakistan on the EODB index.
It was also redefined that the tax payments numbers had been reduced from forty-seven to twenty-one while efforts are being done for introducing e-payments for the social security contribution in the provinces of Punjab and Sindh.
Additionally, it was also announced that a new system would be introduced for the value-added tax (VAT) refunds by the 31st of March, which would greatly be slimming down the time spent on collecting the VAT refunds.
The prime minister was also briefed that vital progress is being made for the facilitation of the provision of electricity and on time information to the businesses in a bid to improve Pakistan’s ranking in the getting electricity indicator.
About the growth relating to the investment facilitation, it was indicated that a memorandum of understanding (MoU) on industrial cooperation was signed with China in the month of December previously.
A MoU is also anticipated to be signed with the Kingdom of Saudi Arabia in the current month whereas an investment framework of MoU with the United Arab Emirates would probably be signed in the month of February.