LAHORE - Punjab Chief Minister Shahbaz Sharif has constituted a steering committee on ease of doing business in Punjab. The body would submit its first recommendations by May 23.

The committee was formed after the Lahore Chamber of Commerce and Industry made a presentation to the CM Punjab on change/improvement in regulations both at provincial and federal level that would expedite many approvals needed by an entrepreneur for starting a business. The CM was informed that Pakistan’s ranking in World Bank’s Ease of Doing Business index could improve from current 138 to 50 with some minor adjustments in rules and close coordination of various government departments.

Punjab finance minister will be the convener of the steering committee that also includes LCCI senior vice president Almas Hyder as a member along with Chief Secretary, Chairman P&D Board, Secretary Industries, Commerce & Investment, Secrtary Labour, Secretary LG & CD, Secretary Energy, Special Secretary Finance, Chairman PBIT, Chairman PITB, Chief Executive Officer, PBIT, Director General, LDA, Chairman and Punjab Revenue Authority.

The Punjab government would implement the recommendations concerning provincial rules and regulations immediately and approach the federal government where the changes or improvements are required at the federal level.