RECORDER REPORT

KARACHI: Sindh government is set to launch its online Business Portal shortly in order to provide maximum facilitation to the trade.

This was stated at a workshop with contributors to the World Bank Doing Business Report organized by Sindh Board of Investment (SBI) at a hotel, here. The workshop was aimed at providing the updated information regarding the efforts of government of Pakistan to create a business enabling environment in Pakistan. The Sindh government is poised to launch its online Business Portal shortly.

Secretary, Board of Investment, Samaira Nazir Siddique, welcomed the contributors and senior members from Federation of Pakistan Chambers Of Commerce & Industry (FPCCI), Overseas Investors Chamber Of Commerce and Industry (OICCI) and Pakistan Business Council and highlighted importance of business reforms in Karachi.

Sindh Board of Investment chairperson Naheed Memon elaborated the importance of Karachi as a business hub and has 65% weightage hence business-friendly policy remains a top priority.

Video on forming a company and getting NTN has been displayed to give a demo on how companies can be formed within a couple of hours by online mode instead of days taken for the same process.

Presentations elaborated the method by which an ease of payment of taxes and duties has been introduced after the introduction of online payments system by FBR, saving the hassle and time to file for sales tax and import/export duty.

Introduction of new laws - Secured Transaction Act, Credit Bureau Act and Company law - has helped strengthen the legal right of the creditor. Processes streamlining in getting electricity connections reduced as the time to get a connection is now within four months which was several months.

A similar briefing has been given by Sindh Board of Investment referring to the efforts of Sindh Government, informing the workshop that a notification has been issued by Karachi Water & Sewerage Board (KWSB) regarding reduction of connection time from 61 to 21 days. The Sindh Building Control Authority (SBCA) has eliminated four (04) procedures for reducing time from 60 to 32 days for getting construction permits.