ISLAMABAD: The Islamabad Chamber of Commerce and Industry (ICCI) has called for comprehensive regulatory reforms to improve the ease of doing business, reduce compliance costs, and create a more investment-friendly environment for domestic and foreign investors.
Acting President of ICCI Tahir Ayub said Pakistan has significant economic potential, a strategic location, and a growing entrepreneurial community, but complex regulations, overlapping government jurisdictions, lengthy approval procedures, and excessive documentation continue to create challenges for businesses.
Addressing visiting delegations at the Chamber House, Tahir Ayub emphasized that simplifying regulatory processes is essential to accelerate economic activity, boost investor confidence, and create sustainable employment opportunities.
Business facilitation needed to replace bureaucratic hurdles
Tahir Ayub said economic growth depends on a strong private sector, which requires a transparent, predictable, and efficient regulatory framework to operate effectively.
He noted that reducing unnecessary bureaucratic barriers would help businesses expand, improve Pakistan’s competitiveness in regional and international markets, and encourage greater investment.
He called for the development of a fully integrated one-window digital system covering business registration, licensing, tax payments, utility connections, and regulatory approvals.
According to him, such a system would lower compliance costs, improve transparency, reduce delays, and minimize unnecessary human interaction in business processes.
Policy consistency crucial for investor confidence
The ICCI acting president stressed that policy stability is critical for attracting investment, warning that frequent changes in taxation policies, regulatory requirements, and compliance procedures create uncertainty for businesses.
He said consistent and business-friendly policies would enable investors to make long-term plans and support sustainable economic growth.
Tahir Ayub also highlighted the need for greater regulatory support for Small and Medium Enterprises (SMEs), which play a key role in employment generation and economic activity.
He recommended simplified tax procedures, easier registration processes, improved access to finance, and reduced compliance requirements to help SMEs expand their operations.
Digital transformation can improve business environment
ICCI Vice President Mohammad Irfan Chaudhry said improving the ease of doing business has become a national priority rather than just an economic reform.
He pointed out that businesses spend significant time and resources dealing with multiple regulatory requirements from different government departments, which affects productivity and increases operational costs.
He stressed that digital transformation of public services, time-bound approvals, transparent inspection systems, and stronger coordination among government institutions could significantly improve the overall business environment.
The ICCI leadership said effective regulatory reforms would help create a more competitive economy, encourage investment, and support private-sector-led growth.
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