Economic experts term enabling business environment, a prerequisite to revive economy.

ISLAMABAD -- The experts on business and economy have termed the evidence-based policy making and establishment of a level playing field for all as imperative step to ensure a better business regulatory environment in Pakistan.

They said this while sharing their views with the participants during online dialogue 'The prerequisites for a better business environment' organized by the Sustainable Development Policy Institute (SDPI) here on Wednesday.

Director Policy at Punjab Board of Investment and Trade, Sohail Qadri on the occasion said that the Punjab government had taken several steps to ensure a better business regulatory environment, said a statement issued by SDPI here.

He said that evidence based legislative and policy direction setting was required for all future endeavors to ensure ease and low compliance cost for businesses.

The director BOI, Punjab said that the government aimed to create an enabling business environment by, identifying gaps, mapping of requirements and the removal of anomalies as well as reforming the regulatory architecture and other similar measures.

He said that tax harmonization agenda, balancing out the high cost of energy and de-regularization were some of the key focused areas of the government.

The Deputy Head of Mission, European Union Delegation, Ms Anne Marchal informed the participants that in addition to working to vulnerable population in Pakistan, the EU delegation would be focusing on supporting the business, investment and trade interventions in future programs as well.

The business regulatory environment improvement should be cross cutting with labor, health, work impediment, fair trade and technology transfer, she added.

She said that the better business regulations were becoming more and more important due to emergence of new risks such as terrorism, climate change and social risks including pandemics.

All provinces should therefore develop best business regulatory guides in Pakistan considering all risks, she added.

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