Key Takeaways
- Prime Minister Shehbaz Sharif has removed Qaiser Ahmed Sheikh from the Cabinet Committee on Regulatory Reforms.
- The new chairman is the federal commerce minister, with Haroon Akhtar Khan as co-chairman.
- The committee will focus on regulatory reforms to improve the business environment.
Prime Minister Shehbaz Sharif has made a significant cabinet reshuffle, removing Investment Minister Qaiser Ahmed Sheikh from his position as chairman of the Cabinet Committee on Regulatory Reforms. The decision was announced through a notification issued by the Cabinet Division.
In September, Sheikh had expressed dissatisfaction, stating that the Prime Minister was too busy to meet with him despite repeated requests. This move is seen as a response to Sheikh's concerns and a restructuring of the committee's leadership.
The new chairman of the committee is the federal commerce minister, with Haroon Akhtar Khan serving as co-chairman. The committee now includes the Federal Minister for Information Technology and the Minister of State for Finance and Railways. The Special Investment Facilitation Council (SIFC) Division will act as the committee’s secretariat.
The committee's primary responsibilities include simplifying regulations and improving the business environment under the Ease of Doing Business initiative. It will review and approve regulatory reforms required under the Ease of Doing Business Act, examine proposals from the Board of Investment to abolish or amend laws, and make policy decisions on the reform process.
The committee will also monitor the progress of approved measures and ensure their timely implementation. One of its key responsibilities is to ensure the timely establishment and operation of a legal registry as part of the regulatory reform process.
The government has finalized the committee’s terms of reference, which outline its scope and objectives. These include ensuring the timely establishment and operation of a legal registry, which is crucial for streamlining business processes and enhancing the ease of doing business in Pakistan.
The move is part of a broader strategy to streamline regulatory processes and improve the business environment. The committee’s new composition and responsibilities reflect a commitment to addressing the concerns raised by Sheikh and ensuring effective governance.
The decision to remove Sheikh from his position and the reshuffle of the committee are seen as steps towards improving the efficiency and effectiveness of regulatory reforms in Pakistan.
