Pebec commences fourth 60 day national action plan on ease of doing business

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Pakistan's Ease of Doing Business: PEBC Commences Fourth 60-Day National Action Plan

The Public-Private Partnership (PPP) Authority, also known as the Private Economic Bureau of Commerce (PEBC), has launched its fourth 60-day national action plan to further improve the ease of doing business in Pakistan. This initiative aims to simplify regulatory procedures, reduce bureaucratic hurdles, and enhance the overall business environment in the country.

Objectives of the Action Plan

The PEBC's fourth action plan focuses on the following key objectives:

  1. Simplification of regulatory procedures: Streamline regulatory processes to reduce the time and cost associated with starting and running a business.
  2. Enhance transparency and accountability: Increase transparency in government decision-making and ensure accountability in the implementation of business-friendly policies.
  3. Improve infrastructure: Enhance the country's infrastructure, including transportation, energy, and communication networks, to support business growth and development.
  4. Promote entrepreneurship and innovation: Encourage entrepreneurship and innovation by providing support to startups, small and medium-sized enterprises (SMEs), and other businesses.

Key Initiatives

The PEBC's action plan includes several key initiatives, such as:

  1. Single Window Operation: Establish a single window operation to facilitate the submission of applications and documents for various business-related services.
  2. Online Portal: Develop an online portal to provide a platform for businesses to access various government services and track the status of their applications.
  3. Business Registration: Simplify the process of business registration and reduce the time required to register a new business.
  4. Taxation: Implement a simplified taxation system to reduce the tax burden on businesses and encourage compliance.

Impact on the Economy

The PEBC's action plan is expected to have a positive impact on the Pakistani economy by:

  1. Boosting economic growth: Simplifying regulatory procedures and improving the business environment can attract more foreign investment and stimulate economic growth.
  2. Creating jobs: Encouraging entrepreneurship and innovation can lead to the creation of new job opportunities and reduce unemployment.
  3. Increasing revenue: A simplified taxation system can increase tax compliance and revenue collection for the government.

Overall, the PEBC's fourth 60-day national action plan is an important step towards improving the ease of doing business in Pakistan and promoting economic growth and development in the country.