Cabinet approves 170 amendments to Cos Act, 2017: 70-75pc of regulations being removed to boost the ease doing of business: Haroon

Business Recorder · 24/10/2026، 12:32:33 AM

ISLAMABAD: The government has decided to accelerate business reforms by removing 70–75 percent of unnecessary regulations and federal cabinet has approved 170 amendments to the Companies Act, 2017, and a bill in this regard has been sent to Parliament. This was stated by Adviser to the Prime Minister on Industries and Production Haroon Akhtar Khan while addressing a press conference alongside the Chief Minister of Gilgit-Baltistan (G-B) here on Friday. Haroon Akhtar said the government was undertaking historic reforms to simplify the business environment, remove unnecessary regulatory hurdles and promote domestic and foreign investment in Pakistan. The adviser said the complexity of the regulatory framework and difficulties in doing business had been among the major factors discouraging foreign investment in Pakistan. “Over the past 78 years, laws and regulations have been introduced to meet different needs. However, with the passage of time, unnecessary complexities and overlapping requirements have accumulated, making it difficult for businesses to operate efficiently,” Haroon Akhtar Khan said. He explained that the government was conducting a comprehensive review of regulators, laws and regulations affecting businesses across the country. The reform process has made substantial progress, with approximately 60–70 percent of the overall work completed. Reform proposals submitted by various institutions recommend eliminating, on average, 70–75 per cent of unnecessary or duplicative regulations. The Adviser said that Prime Minister Shehbaz Sharif was personally overseeing the reform agenda and holding review meetings every two weeks to ensure progress. The implementation of several proposed reforms had already begun, while further measures were being developed to improve the ease of doing business and strengthen investor confidence. Highlighting the proposed AsaanKarobar Act, Haroon Akhtar Khan said the government was working to establish a business environment align