Bold regulatory reforms vital to transform Business environment: ICCI acting President

ISLAMABAD ( WNAM REPORT ): Acting President of the Islamabad Chamber of Commerce and Industry (ICCI), Tahir Ayub, has urged the government to launch a comprehensive regulatory reform agenda aimed at significantly improving the ease of doing business, reducing the cost of compliance, and creating a more investment-friendly environment for domestic and foreign investors.
Talking to different visiting delegations at the Chamber House here on Friday, Tahir Ayub said that Pakistan possesses immense economic potential, a strategic geographic location, and a vibrant entrepreneurial community. However, cumbersome regulations, overlapping jurisdictions, excessive documentation, and lengthy approval processes continue to impede business growth and discourage investment. He emphasized that simplifying regulatory procedures has become imperative to stimulate economic activity, attract investment, and generate sustainable employment opportunities.
He said the business community firmly believes that economic growth is driven by a vibrant private sector, but businesses require a predictable, transparent, and efficient regulatory framework to flourish. He stressed that reducing unnecessary bureaucratic hurdles would not only improve investor confidence but also enhance Pakistan’s competitiveness in regional and global markets.
Tahir Ayub called for the establishment of a fully integrated one-window digital system for business registration, licensing, tax payments, utility connections, and regulatory approvals. Such an initiative, he said, would substantially reduce compliance costs, improve transparency, minimize human interaction, and curb discretionary practices that often delay legitimate business activities.
He also highlighted the importance of ensuring consistency and predictability in government policies, stating that frequent changes in taxation, regulatory requirements, and compliance mechanisms create uncertainty for investors and undermine long-term business planning. Stable and business-friendly policies, he noted, are essential for attracting both local and international investment.
Tahir Ayub stressed that Small and Medium Enterprises (SMEs), which constitute the backbone of Pakistan’s economy, deserve special regulatory facilitation. He recommended simplified tax filing procedures, easier business registration, quicker access to finance, and reduced compliance requirements to enable SMEs to expand their operations and contribute more effectively to employment generation and exports.
ICCI Vice President Mohammad Irfan Chaudhry said that improving the ease of doing business is no longer merely an economic reform but a national necessity. He observed that businesses spend considerable time and resources complying with multiple regulatory requirements imposed by various departments, affecting productivity and increasing operational costs. He said digital transformation of public services, time-bound approvals, transparent inspection mechanisms, and greater coordination among government institutions would significantly improve the business climate