Islamabad: Federal Minister for Board of Investment, Qaiser Ahmed Sheikh, chaired a meeting of the Cabinet Committee on Regulatory Reforms to address challenges and propose reforms in the dairy and beverage sector. Attendees included Special Assistant to the Prime Minister on Industries and Production, Haroon Akhtar Khan, and senior officials from relevant departments and private sector stakeholders.

According to Press Information Department, the meeting focused on the dairy and beverage sector, a critical economic segment contributing approximately 14.04% to Pakistan’s GDP and supporting nearly 8 million rural families. The reforms team identified 40 regulatory requirements across various departments, highlighting inefficiencies, particularly in Sindh, where establishing a food processing unit requires extensive documentation and processing time.

Proposed reforms aim to streamline regulations, reduce documentation from 235 to 83, and cut processing time significantly. Minister Qaiser Ahmed Sheikh stressed the importance of enhancing investment and ease of business, expressing concern over provincial resistance to reform.

Haroon Akhtar Khan emphasized that excessive regulations hinder foreign direct investment, urging a shift in mindset to prioritize economic growth. Discussions covered regulatory issues with consensus pending in areas such as food business licensing and product registration.

The meeting concluded with an agreement on the need for digitization and harmonization across federal and provincial levels to improve the business environment and attract investment. The Board of Investment committed to advancing reforms to facilitate business growth in Pakistan.