Starting a business is one of the ten World Bank's Doing Business indicators on the basis of which 190 economies all over the world will be evaluated for business friendly reforms this year. Of these four, starting a business, registering property, getting construction permits, contract enforcement fall under the provincial domain. In Pakistan, Doing Business data for these indicators is collected from private businesses in Lahore and Karachi, with Lahore contributing 35 percent and Karachi 65 percent of the country's share.
As part of the Punjab Government and World Bank's 100 Days to Excellence in Doing Business Reform Plan, the business registration portal provides an online platform for business entities such as sole proprietorship, association of persons (firms), single member company, private and public limited companies to be registered thereby, eliminating the need for citizens to visit various departments in order to get a business registered.
As a result of this online facility, the registration processing time has been reduced from approximately 17 days to 2 days. The portal not only ensures timely issuance of online registration certificates but it also provides a tracking mechanism for the applications thus making the process more transparent.
Punjab Minister for Finance Ayesha Ghous Pasha said the government has designed Growth Strategy 2018 to help accelerate economic growth and improve social indicators. "During the course of designing the strategy, we focused on improving the lives of ordinary people through creating employment opportunities. This can only happen if the private sector grows, resulting in more investment." She said if the Pakistani investors move ahead, it would encourage foreign investors to invest in Pakistan. In recent months, she said, the provincial government has taken several initiatives such as cutting down the time spent on registering property to 18 days, and time for construction permits reduced from 60 days to 20 days. "A lot has been done to facilitate ease of business but it has not been communicated properly. The business community that makes opinion needs to more aware of this and the Lahore Chamber can help create this awareness and how private investors can benefit from these reforms, she added.
Punjab Minister for Industries Sheikh Alauddin said the provincial government was adding final touches to its industrial policy, focusing on ensuring a credit-line for investors. "(News about the outflow of foreign exchange amounting to US $2 billion is a point of concern for us). We have capital but it is going out. This could be stopped through ease of doing business that will create employment opportunities" he added.
During the launch, Secretary Industries, Mujtaba Piracha mentioned that industries department and PITB are going to launch one window facility for businesses at Sundar Industrial Estate in the coming month to be followed by a similar facility at Faisalabad.
Chairman Planning & Development Board Muhammad Jehanzeb Khan said that to improve the investment climate and create employment, the P&D Department had launched Punjab Jobs & Competitiveness (J&C) Program in collaboration with the World Bank Group. The program supports upgrading and development of industrial infrastructure through a private sector-led competitive process. "Businesses and government need to stay in close coordination for us to help resolve issues [impeding private investment] in a timely manner, he added.
PBIT Chairman Dr Umar Saif said the government had a "renewed focus on ensuring ease of doing business" in the province. "By all accounts Pakistan has done great over the years-overcoming the energy deficit is one example," he added. "The onus is on government to continue that momentum. The portal provides access to a host of services, making it easier for small businesses to work in Pakistan. These are baby steps, a lot more need to be done such as online payment of business related fees and the need to make sure that taxes are filed once, not 49 times. We are cognizant of all this and the government is working to remove these impediments to business. In about 4 to 6 weeks, we will introduce online payment facility so businesses would not have to visit Pakistan to pay on fees. Online payment of fee and taxes will encourage businesses to start and expand. A helpline has also been made functional in this regard, he said adding that presently the portal would be available for Lahore District which would be extended to other districts of the province in near future, he added.
LCCI President Malik Tahir Javed also spoke on the occasion while Secretary P&D Iftikhar Ali Sahoo, Secretary Labor Farah Masood, PBIT Director General PITB Sajid Latif and Ali Jalal Program Director, Program Implementation Unit attended the ceremony.