Key Takeaways
- Gilgit-Baltistan Assembly to discuss Asaan Karobar Act soon.
- Initiative aims to streamline regulatory processes and promote economic growth.
- Meeting held between Chief Minister and SIFC Secretary to discuss investment facilitation.
The Gilgit-Baltistan Assembly is set to take up the Asaan Karobar Act, a move aimed at streamlining regulatory processes and facilitating businesses within the region. This development was discussed during a meeting between Chief Minister Gilgit-Baltistan Amjad Hussain and Secretary SIFC Jamil Ahmed Qureshi, focusing on investment facilitation and regulatory reforms.
The Asaan Karobar Act is part of the government’s broader investment and business-environment reform agenda, designed to create a more conducive environment for economic growth. The initiative includes both federal and provincial legislative efforts, as well as specific financial and taxation schemes, all aimed at simplifying business processes.
On June 30, 2025, the provincial government of Khyber Pakhtunkhwa introduced a draft bill, the ‘KP Aasan Karobar Act, 2025,’ in its legislature. This act aims to establish a one-window business facilitation portal to streamline regulatory approvals and enhance the ease of doing business in the province.
The meeting also highlighted the importance of promoting industrialisation in Gilgit-Baltistan and exploring opportunities for investment through Special Economic Zones (SEZs). SIFC emphasized its role in facilitating investors, coordinating with relevant stakeholders, and supporting the development of commercially viable investment opportunities.
Chief Minister Amjad Hussain expressed his commitment to working closely with the SIFC to unlock the region’s investment potential and strengthen the business environment. The initiative is expected to significantly boost economic activity and attract more investors to the region.
The Asaan Karobar Act is part of a larger effort to improve the business environment across Pakistan. The government’s focus is on simplifying regulatory processes, reducing bureaucratic hurdles, and creating a more conducive environment for investment and economic growth.
SIFC Secretary Jamil Ahmed Qureshi reaffirmed the commitment to working closely with the Government of Gilgit-Baltistan to facilitate investors and support the development of commercially viable investment opportunities. The initiative aims to create a more streamlined and efficient business environment, benefiting both local and foreign investors.
The Asaan Karobar Act is expected to have a significant impact on the region’s economic landscape, promoting industrialisation and creating new opportunities for businesses. The government’s efforts are aimed at making the business environment more attractive and conducive to growth.
