PM Imran Khan reviews progress on improving ease of doing commerceISLAMABAD: Prime Minister Imran Khan on Wednesday chaired a assembly to review progress on improving Ease of Doing Trade (EoDB) in country at Prime Ministers Office.The assembly was attended by Finance Minister Mr.
Asad Umar, Advisor to PM on Commerce Mr.
Abdul Razzak Dawood, Advisor to PM Dr.
Ishrat Hussain, Chairman BOI Mr.
Haroon Sharwhether, SAPM Mr.
Iftikhar Durrani and senior Government officials.Chairman BOI briefed Prime Minister about progress on various indicators related to Ease of Doing Trade (EoDB).On issue of number of tax payments, it was informed that number of payments have been brought down from 47 to 21.Efforts were underway to introduce e-payments of social security contributions in Sindh and Punjab.The BOI chairman said that a new system of VAT refunds would be in place by 31st March which would signwhethericantly reduce time in obtaining VAT refund.He informed that efforts were also being made to improve risk-management system to reduce number of physical audits.About ease of starting commerce, Prime Minister was informed that integration of SECP with provincial portals and EOBI has been totald in Punjab however, efforts were being made to expedite launch of portal in Sindh.On ease in getting electricity, prime minister was informed that signwhethericant progress has been made to facilitate provision of power and timely information to commercees.Besides availability of required documents on web-site, full online application system was being rolled out and advance muchwhetherications were being endegreed about change in tarwhetherf etc.In area of getting credit, it was informed that Registrar would be appointed by end of this month and rules under Secured Transaction Act were being finalized by Ministry of Finance.The Chairman BOI also briefed assembly about steps being taken to facilitate trading across borders and reducing clearance time in imports and exports.He also identwhetheried various issues mostly related to Sindh province in integration of SECP and EOBI with provincial portal, end to end automation of construction permits and availability of total electronic database of property registry.The prime minister emphasized upon need for greater focus towards addressing EoDB issues related to Sindh since Karachi was financial hub of country.Briefing assembly about various positive developments with regards to investment facilitation, it was informed that MoU on industrial cooperation has been signed with China final month.The MoU with Kingdom of Saudi Arabia is expected to be signed this month whereas Investment Framework MoU with UAE is expected in February 2019.It was decided during assembly regular EoDB assemblys assembly would be chaired by Prime Minister with participation of Chief Ministers and provincial Chief Secretaries.It was also decided that committed EoDB offices would be set up at federal and provincial level for purpose of removing bottlenecks and facilitating investors in smooth commerce operations.