Pakistan: All set for Business Facilitation Center (BFC) in Islamabad
Wire desk byline Sourced from Xinhua, Dawn, Arab News, Anadolu and Minute Mirror. Translated and abridged by the GSRRA Desk.
Business Facilitation Centre (BFC) in Islamabad would connect multiple federal agencies including Federal Board of Revenue (FBR) and Securities and Exchange Commission of Pakistan (SECP) through an automated system for the submission, processing, and issuance of RLCOs (Required Licenses, Certificates, and other approvals) of foreign investors under one-roof.
The key registration agencies including FBR, SECP and others will facilitate investors under one roof.
It is learnt that the government has decided to establish Business Facilitation Centre (BFC) in Islamabad to improve efficiency for companies navigating the various regulatory processes.
Prime Minister will inaugurate the BFC during the current month.
Background of the issue revealed that the Board of Investment (BoI) has signed the Service Level Agreement (SLA) with all federal government departments to streamline and facilitate business related services for entrepreneurs and businesses in Pakistan.
The Prime Minister in June 2024 has ordered to establish a Model Business Facilitation Centre (BFC) at Islamabad.
The BFC will serve as a unified platform to streamline the processing and delivery of RLCO services for businesses, Provide a centralised hub where entrepreneurs can access multiple services efficiently, enhance inter-agency collaboration to ensure seamless service delivery, improve the ease of doing business by reducing delays and offer transparent and accountable service processes to foster trust among stakeholders.
Islamabad Business Facilitation Centre will be dealing with 341 (RLCOs) of 22 Ministries, as well as, 41 Departments and every department will depute their Experts for onward placement at the Business Facilitation Centre.
Reference Link:- https://www.brecorder.com/news/40346537
Zamir Ahmed Awan is the founder and Chair of the Global Silk Route Research Alliance, a think tank in Islamabad. He studied engineering at Shanghai University in the 1980s, and years later he went back to China as Pakistan's science counsellor in Beijing, from 2010 until 2016, working on science and higher education cooperation between the two countries.…
