Islamabad: The Board of Investment (BoI) on Wednesday stated that it would present a roadmap under its Pakistan Regulatory Modernization Initiative (PRMI) project to facilitate small traders, a news source reported.
According to the details available, the PRMI project would present a roadmap for the reduction of requiring unnecessary licences, which impede small businesses. Sources revealed that the requirement of 74 licences had already been abolished, which had greatly helped small traders in the country.
As per the instructions of Prime Minister (PM) Imran Khan, the local governments are working towards abolishing all licenses and replacing these with a single digital registration system for small businesses. However, the food outlets would still be subject to inspections and licences, sources revealed.
The BoI took notice that a complicated licence system created problems for small traders like general stores, naan shops, and cloth shops. The system requires over 150 licenses at district level for starting businesses, which the board plans to abolish. It would also work towards making the process of acquiring licences easier and automated.
