Enabling business environment crucial to revive economy: Experts.

ISLAMABAD -- Evidence-based policy making and establishment of a level playing field for all was termed an imperative step by economic experts to ensure a better business regulatory environment in Pakistan.

Economists shared with the participants during online dialogue 'The prerequisites for a better business environment' organized by the Sustainable Development Policy Institute (SDPI) here on Wednesday.

Sohail Qadri, Director Policy at Punjab Board of Investment and Trade, on the occasion said that the Punjab government has taken several steps to ensure a better business regulatory environment. He said that evidence based legislative and policy direction setting is required for all future endeavors to ensure ease and low compliance cost for businesses.

He said that the government aims to create an enabling business environment by identifying gaps, mapping of requirements and the removal of anomalies along with reforming the regulatory architecture and other similar measures. He said that tax harmonization agenda, balancing out the high cost of energy and de-regularization are some of the key focused areas of the government.

Anne Marchal Deputy Head of Mission, European Union Delegation, informed the participants that in addition to working with the vulnerable population in Pakistan, the EU delegation will 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 said.

She added that the better business regulations are 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...