Punjab Jobs & Competitiveness Program was launched by Planning and Development Board (P&DB), Government of the Punjab in collaboration with the World Bank Group with the objective to improve the business environment of the province. Consequently, various reforms were designed and implemented under the Ease of Doing Business Reforms Framework. The reforms mainly pertained to automation and digitization of processes, elimination of unnecessary regulation, integration of government systems, reduction of red tape and establishment of commercial courts for speedy disposal of cases. These initiatives have significantly reduced the risk and cost of doing business in Punjab and facilitated the private sector by creating an enabling business environment.
The Government of Punjab has scaled up its effort to facilitate the private sector by adopting an all-inclusive approach by designing and implementing Pakistan Regulatory Modernization Initiative (PRMI). PRMI is an extension of the EODB Reforms Framework and builds on the momentum of the reforms. This initiative aims to reduce excessive compliance of regulation by eliminating, critically analyzing, simplifying, reengineering and digitizing business registrations, licenses, certificates, other permits and regulatory requirements. Implementing a holistic approach which addresses the legal, regulatory, procedural and institutional barriers affecting all phases of the investment life cycle will establish a competitive business environment that is favorable for attracting, retaining, and expanding investment in Punjab. Subsequently, this initiative will increase investor confidence, attract domestic and foreign investments and create an investor friendly environment which will lead to job creation and economic growth ultimately contributing to the objective of Jobs & Competitiveness Program.