In a major step to boost investor confidence and cut through bureaucratic hurdles, Prime Minister Shehbaz Sharif on Thursday inaugurated Pakistan’s first-ever Business Facilitation Centre (BFC) in Islamabad. The initiative was hailed as a game-changer for entrepreneurs and a crucial reform to improve the country’s overall investment climate.
A One-Stop Hub for Business Services
The BFC, established by the Board of Investment (BOI), has been designed as a single-window platform to provide services such as business registration, licensing, and regulatory compliance. The aim is to eliminate the maze of red tape that has long discouraged both local entrepreneurs and foreign investors.
“If we want to compete globally, we must offer world-class services to investors – not just another government office,” the prime minister stressed during the ceremony, cautioning officials against reducing the centre to “nothing more than brick and mortar.”
Centralizing Services and Simplifying Procedures
Previously, investors had to navigate multiple ministries and departments to obtain approvals, a bureaucratic labyrinth that often discouraged new investments. Under the new system:
- Investors can now submit a single, comprehensive application for establishing special economic zones or other ventures.
- The system will automatically evaluate key factors such as business type, export potential, employment creation, and infrastructure requirements.
- Applications will be tracked in real time, with notifications issued for any missing documents or delays.
Prime Minister’s Vision for Investor-Friendly Governance
The prime minister toured the new facility and interacted with its staff, whom he described as “highly talented and competent.” He emphasized the importance of a service-oriented approach, stating:
“Public servants must welcome visitors with a smiling face and genuine support – not a second of delay should be tolerated.”
Sharif further expressed his ambition to replicate the BFC model across other regions if the Islamabad centre proves successful. “This must be something that other countries look at and say: Pakistan got it right,” he added.
Event Attendees and Government’s Outlook
The inauguration was attended by several federal ministers, including Qaiser Ahmad Sheikh, Ataullah Tarar, Shaza Fatima Khawaja, Ahad Cheema, and Dr. Musadik Malik, along with senior government officials.
With foreign direct investment (FDI) in Pakistan struggling in recent years and investor confidence dampened by cumbersome regulations, the launch of the Business Facilitation Centre is being viewed as a critical turning point toward creating a more investor-friendly environment.
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