• Notes National Regulatory Reforms will woo investors, streamline business
• Launches digital tracker ‘Regimeter’ to monitor regulatory reforms
• Pledges to harness country’s ‘youth bulge’ through vocational training
• Touts ‘wonderful’ relations with US and praises UK for its support

ISLAMABAD: Prime Minister Shehbaz Sharif declared on Saturday the country has exited a period of economic turmoil, asserting that key indicators are now showing “wonderful” performance as he addressed the launch ceremony of National Regulatory Reforms.

The event, at which PM Shehbaz said the government’s efforts had steered the nation away from jeopardy, also marked the debut of “Regimeter”, Pakistan’s first digital regulatory tracker to monitor reform implementation.

“Through our outstanding teamwork, excellent planning and untiring efforts, I can say today with a sense of relief and achievement that Pakistan is economically out of the woods; our mega indicators are wonderful,” he said, citing the recent release of a $1.2 billion tranche from the International Monetary Fund as evidence.

PM Shehbaz said the national economy was in a “very difficult situation” when his government took office. Now, he added, the focus has shifted toward economic growth through foreign investment in sectors like agriculture, information technology, and mines and minerals.

Addressing the demographic strengths of the nation, PM Shehbaz noted the potential of the country’s youth.

“We have a very young population, a youth bulge. We are offering them vast opportunities for vocational training and with international certification,” the prime minister said. “They will find productive jobs not only in Pakistan but abroad, making Pakistan richer and prosperous.”

The prime minister described the launch of the new regulatory framework and the Regimeter portal as a “quantum jump” that would streamline processes for businesses and investors.

He said the initiative would facilitate the business community, industry, and agriculture, while also helping to eliminate the “immense waste of time and resources” that can lead to corruption and nepotism.

The Regimeter platform will not only track the implementation of regulatory reforms approved by the Cabinet but also offer a feedback mechanism for the private sector.

“We are able to now announce and let the nation knows … that the government is fully aware of the challenges of the day and they are ready to walk with them with the speed they want us to walk,” PM Shehbaz said.

The ceremony, organised by the Board of Investment (BoI), was attended by senior officials including Deputy Prime Minister Ishaq Dar, federal ministers, and representatives from the public and private sectors.

According to the BoI, Pakistan’s business landscape has been rich in potential for decades but restrained by complexity. It noted that entrepreneurs and innovators had faced a web of regulations belonging to another time, and while the world moved forward, Pakistan’s ranking in the ease of doing business had revealed a difficult truth.

This reality triggered a strategic shift. Under the directives of the prime minister, the BoI was entrusted with a national regulatory reform mission. Reform proposals were strengthened with global methods for better regulation in consultation with businesses and experts across the country.

With three packages already endorsed under the supervision of the Cabinet Committee, 472 reforms have been approved so far, marking a significant milestone in Pakistan’s journey toward economic transformation.

During the ceremony, the prime minister commended the leadership at BoI, the Securities and Exchange Commission of Pakistan and the Drug Regulatory Authority of Pakistan for regulatory modernisation.

Special Assistant to the Prime Minister for Industry and Production, Haroon Akhtar Khan, framed the reforms as a foundational shift for the country. He said the government’s efforts would transform Pakistan from a “regulatory state into a developmental state.”

Mr Khan explained the reforms are part of a wider strategy guided by three pillars: tariff rationalisation, regulatory modernisation, and an export-led industrial revival. “Under the new national tariff policy, we are moving towards predictability, competitiveness and phasing out of arbitrary duties,” he said.

Mr Khan provided an update on the work of the Cabinet Committee on Regulatory Reforms Sub-Committee, noting that it includes a comprehensive review of the Companies Act 2017, with over 280 proposed amendments aimed at reducing compliance burdens on private firms, as well as simplifying outdated resolutions and approvals.

International partnerships

The premier also emphasised strengthening international partnerships. He thanked the British government for its support, noting the UK has been a “great partner” in Pakistan’s progress.

Baroness Jenny Chapman, the UK Minister for International Development, was a key speaker at the event. She highlighted Pakistan’s potential, from entrepreneurship and natural resources to its strategic location for global trade.

Ms Chapman termed the reforms a “positive achievement”, adding that these ambitions are shared by both the UK and Pakistan. “The links between our people play a huge part in the flow of trade and investment between our two countries as well. Trade is now at 5.5 billion pounds a year,” she said. “We’ve got a new trade dialogue and we’re supporting Pakistan’s efforts to work with the 1.6 million-strong Pakistani diaspora in the UK to unlock private capital.”

The PM acknowledged the UK’s support and stressed that Pakistan must fully embrace digitisation to compete globally.

He said Pakistan has a “wonderful relationship” with the US and was looking forward to a “wonderful time of mutual cooperation”.

Published in Dawn, December 14th, 2025