Islamabad: The Board of Investment (BoI) on Monday revealed that the government had engaged the World Bank (WB) to expedite the implementation of the Pakistan Regulatory Modernisation Initiative, a news source reported. Advisor to the Prime Minister on Commerce and Investment Abdul Razak Dawood chaired a review meeting on the project.
During the meeting, the BoI members revealed that WB would provide technical assistance for the implementation of the Pakistan Regulatory Modernisation Initiative. They added that the project proposal – part of the WB-funded Pakistan Goes Global initiative – had been forwarded to the Planning Division for a formal approval.
A WB team also attended the meeting and provided initiative research in regulatory environment of key sectors in Pakistan. It also shared a road map for the planning and execution of the project; adding that it would meet its objectives within the next three years.
Dawood said that the project’s goal was to overhaul the regulatory environment for businesses in Pakistan and it should reach completion status within the stipulated time period. He added that the purpose of the initiative did not only cover identifying problems with the business environment in the county but providing recommendations for remedial measures too.
