The Punjab government in line with its commitment to improve the investment environment in the province through ensuring ease of doing business, on Wednesday launched the online Punjab Business Registration Portal to help businesses register from the comfort of home.
LAHORE, (Pakistan Point News - 31st Jan, 2018) : The Punjab government in line with its commitment to improve the investment environment in the province through ensuring ease of doing business, on Wednesday launched the online Punjab Business Registration Portal to help businesses register from the comfort of home. With its slogan of “Anytime, Anywhere”, the portal launched at the Lahore Chambers of Commerce and Industry (LCCI) promises speedy registration of businesses in “minutes” by providing access to a slew of online services, cutting down the cost, time and effort of visiting multiple government departments for the purpose.
“We attach a lot of hope to the portal especially in relation to starting a business,” said Malik Tahir Javaid, President Lahore Chamber of Commerce and Industries, the venue for the launch of the portal. “Through the online portal, businesses can submit all required documents online to start registration immediately.” Starting a business is one of the ten World Bank’s Doing Business indicators on the basis of which 190 economies all over the world will be evaluated for business friendly reforms this year.
Of these four, starting a business, registering property, getting construction permits, contract enforcement fall under the provincial domain. In Pakistan, Doing Business data for these indicators is collected from private businesses in Lahore and Karachi, with Lahore contributing 35 percent and Karachi 65 percent of the country’s share. According to the recently published World Bank's flagship Doing Business Report 2018, Pakistan slipped by three points and now ranks at 147 out of 190 economies.
However, it registered progress on the Distance to Frontier (DTF) that shows the distance of each economy to the “frontier,” which represents the best performance observed on each of the indicators across all economies in the Doing Business indicators.” While aiming to improve the overall business environment in the country, the Doing Business reform agenda pursued by the Federal and provincial governments seeks to improve Pakistan’s ranking on the Doing Business Index.
As part of the Punjab Government and World Bank’s 100 Days to Excellence in Doing Business Reform Plan, the business registration portal provides an online platform for business entities such as sole proprietorship, association of persons (firms), single member company, private and public limited companies to be registered thereby, eliminating the need for citizens to visit various departments in order to get a business registered. As a result of this online facility, the registration processing time has been reduced from approximately 17 days to 2 days. The portal not only ensures timely issuance of online registration certificates but it also provides a tracking mechanism for the applications thus making the process more transparent.
