ISLAMABAD: Pakistan’s Prime Minister Shehbaz Sharif on Thursday inaugurated the country’s first-ever Business Facilitation Centre (BFC), aimed at enhancing the ease of doing business and attracting both local and foreign investment by offering a one-stop solution for investors and entrepreneurs.
Established by the Board of Investment, the BFC is designed to assist the business community by providing a comprehensive range of services, including guidance on regulatory requirements, as well as support with business registration, licensing, and permits, the state-run news agency APP reported.
The centre will streamline procedures, minimise bureaucratic hurdles, and promote efficient interaction between businesses and government departments.
During the inauguration, the Prime Minister was briefed on the centre’s operations, including its services related to investor support, applications for Special Economic Zones, licensing, and payment processes — all with significantly reduced processing times.
Unveiling the project’s commemorative plaque, the Prime Minister expressed his commitment to replicating the initiative nationwide, should it meet its intended objectives.
He thanked the Minister for Board of Investment Qiaser Ahmed Sheikh, Secretary BOI, and their team for establishing the country’s first-ever facilitation center and particularly for recruiting a highly talented and competent workforce who were engaged in dealing with customers as the prime minister spoke to the gathering.
The Prime Minister called on all relevant departments to ensure the efficient operation of the centre, emphasising the importance of facilitating and guiding investors and stakeholders from various sectors, in line with international best practices.
“Otherwise, this will be nothing more than brick and mortar. That is not my vision… We should welcome customers with a smiling face combined with genuine support without any delay, not even for a second,” he said.
In his remarks, BOI Minister Qaiser Ahmed Sheikh called the establishment of the centre a breakthrough in investment facilitation.
He said that earlier, the investors had to visit various departments to accomplish the required procedures for setting up their businesses; however, the BFC will reduce this hassle, besides remarkably reducing the timelines.
Prime Minister Shehbaz also visited various desks at the facilitation centre, where he was informed that investors would be able to submit applications for establishing Special Economic Zones or other projects directly at the facility.
The application process involves responding to a series of queries regarding the nature of the business, loan and equity structure, target market, export potential, anticipated employment generation, and utility requirements.
The system will reflect all attached documents as well as an activity log, besides enabling the applicant to track their application, who will also be timely informed about any shortcomings on their part.
