The summary of key reforms implemented since June 2017 and in the 100 day sprint for each business area is as under:

1. Starting a Business

• Promulgated Companies Act, 2017: The law became effective on May 30, 2017. This will enable greater autonomy for SECP as a regulator creating a more robust accountability framework for greater ease in new company incorporation. Single member companies now face fewer regulations. Allows SECP to automate systems and incorporate technology to facilitate end user/consumer/ new and old companies. This reform applies to both Karachi and Lahore.
• Enabled online registration through e-services/VOSS has now been operationalized. SECP has developed data linkages with FBR and EOBI at the back end. Corporate data of companies registered by SECP is pushed to these entities in real time.
• Reduced cost for new company incorporation. Made available certified true copies of company formation documents for free and reduced documentation as now only one form called annexure IV is required instead of four separate documents which had their separate costs
• Merged Procedure No. 12 (notify appointment of CEO) and Procedure No. 4 (Company Incorporation).Merged Procedure No.1 (Name Reservation) with Procedure No. 4(Company Incorporation)
• Developed a business registration portal at Lahore. Integrated business registration portal with National Database and Registration Authority (NADRA) and Securities and Exchange Commission Pakistan (SECP) e-services portal. Established helpline for business registration portal.
• Integration of Labour Department and PESSI on the business registration portal resulting in reduced time to register a business from 10 to two days.
• Sindh Business Registration Portal operationalized. (combined registration with Labour, Industries Department and SESSI)

2. Dealing with Construction Permits

Karachi

• SBCA reduced time to obtain building permit from 60 to 30 days. Reduced time for issuance of completion certificate from 45 to 30 days.
• SBCA exempted Floor Certificate & 3 NOCs from Excise & Taxation, KWSB & SEPA.
• Reduced time taken for water connection at Karachi Water and Sewerage Board (KWSB) to 21 days from 60.
• Reduced time taken (30 days) by eliminating requirement for environmental approval by Sindh Environment Protection Agency (SEPA).
• Reduced time taken by 31 days for requirement at KWSB for tax certificate and property tax valuation from Excise & Taxation Department waived (Procedure 10 & 11)

Lahore

• LDA and MCL reduced time to obtain building permit to 20 days
• Creation of an Integrated One Window System including counters of Traffic Engineering and Planning Agency (TEPA), Water and Sanitation Agency (WASA) at Lahore Development Authority (LDA) office
• Eliminated the requirement to request assessment copy of property unit, in turn eliminating the need for inspection from the Excise & Taxation Department.
• Implemented and disseminated Environment Protection Agency (EPA) de-notification of the requirement for obtaining NOC (105 days) to construct non-hazardous and non-toxic DB case study type warehouses (EPA, LDA and Metropolitan Corporation Limited [MCL]).
• Made available Construction Permits (CP) information on LDA website for increased transparency
• Published online permit issuance statistics. Published CP procedures, fees and binding timelines on LG&CD/MCL website. Developed and uploaded CP requirement checklists and required forms for all major types of project
• Completion certificate issued in 22 days.
• Time and cost of requesting water connection from WASA has been reduced significantly
• Standardization of by-laws between Metropolitan Corporation Lahore and Lahore Development Authority
• Final inspections legally mandated through by-laws – Metropolitan Corporation Lahore and Lahore Development Authority

3. Enforcing Contracts

• Alternate Dispute Resolution Centre (ADR) Bill 2017 approved by the Senate
• Automated Case Flow Management System launched at Lahore High Court
• Operationalization of a court annexed Alternative Dispute Resolution (ADR) Centre
• Pre-trial conference system launched (senior civil judge scrutinizes cases before being presented to the court formally)
• Mediation centres established in Lahore
• District and Sessions Court has developed a website through which cases can be tracked, this includes the category of cases and its status. https://www.dsjlahore.com.pk/
• The cause list and short summary of cases can also be accessed at https://www.dsjlahore.com.pk/
• Division of courts established to process commercial cases e.g. negotiable instruments, rent, intellectual property and consumer courts.

4. Getting Credit

• Enacted Secured Transactions Act 2016 and strengthened legal rights through a Secured Transactions Collateral Registry (STCR) rules and regulations. Pakistan will have a stronger legal framework for enabling easier access to finance.
• Part VI “REGISTRATION OF MORTGAES CHARGES, ETC” of Companies Act 2017 allows creation of charge on immovable property, floating charge and other categories.

5. Getting Electricity

• Improved power infrastructure has resulted in exemption of load-shed to over 61% of Karachi
• Introduced simple to understand New Connection request forms, available on KE website
• Enabled single undertaking for new connection requests.
• Reduced TAT for execution (new connection) from 215 days to 120 days or 90 days on full payment.
• Energy department amended its SOP to reduce time taken by Electric Inspector for inspections to 3 days from 14 for new connections (Procedure 3).
• (Lahore) Energy department amended its SOP to reduce time taken by Electric Inspector for inspections to 3 days from 14 for new connections (Procedure 3).
• Number of outages reduced to below 100.

6. Protecting Minority Investors

• The law, Companies Act 2017 became effective on May 30, 2017 and is highly relevant for the Protecting Minority Investors indicator as it directly addresses the liability of interested directors. Specifically, under Article 286 of the Companies Act 2017, shareholders representing ten percent or more of the issued share capital of a company may make an application to the court by petition and sue an interested director for losses arising from a related-party transaction
• Additional requirements have been prescribed through 3rd, 4th and 5th schedules to the Companies Act, 2017. This will create a stronger legal environment for minority investors in Pakistan, creating more favorable financial partnerships, consequently improving access to finance.
• Listed Companies (Code of Corporate Governance) Regulations, 2017 available. These will clarify guidelines for businesses to conduct their management affairs.
• The commission has prescribed detailed disclosures required to be made to the shareholders by the companies
• Enactment of Corporate Rehabilitation Bill for a stronger legislative framework for minority shareholders as well as making it easier for businesses to liquidate
• Facilitation of members through postal ballot (e-voting and voting through post) in case of demand of polls by members benefitting minority shareholders catering to the drawback of location/spread of shareholders across Pakistan.

7. Paying Taxes

• Introduced and activated STRIVE system for reduction in time for filing taxes by 50%.
• Major Banks have now been integrated into IRIS to allow for online payment of corporate income tax and GST.
• Reduced a total number of payments from 12 to one by implementing e-services for GST payment.

8. Resolving Insolvency

• Enabled a framework for establishing and licensing to companies to take over non-performing assets of distressed entities through Corporate Rehabilitation Act.
• Enabled the establishment, licensing and regulation of corporate restructuring companies and the manner in which they can operate businesses under Corporate Restructuring Companies Act, 2017 and subsequently it’s rules.

9. Registering Property

Karachi

• Digital scanning for all registered documents available as well as digitized maps for Sindh online; NOCs verified online; title search available online. Overall time reduced from 208 days to 25 days. The entire procedure of property registration (excluding Mutation) takes 17 days only.
• Reduced time taken to six days for Procedure 7 (execution and registration of the deed before the registration authority) by five months and 21 days. The primary reason this initiative took so long is the use of microfilming technology. The unavailability of microfilms led to extraordinary delays. Since microfilms have been replaced by Digital Scanning Units the time taken for this procedure has been reduced significantly.
• Standardized sale-purchase agreements template available online saves up cost of hiring deed lawyer. One of the main reasons to hire a deed writer in Karachi was calculation of applicable taxes. BOR has introduced Online Property Tax Calculator which provides accurate and classified details of all applicable federal and provincial taxes on registering property in Karachi.
• Made available progress reports and performance statistics. Improved online availability of information about Procedure 2 – advertisement in newspaper not required.

Lahore

• Launch of E-stamp papers. Procedure 4 and 5- All the stamp papers have been converted into the e-stamp papers and only issued from the Bank of Punjab. Now, there is no need to visit the National Bank or Treasury for the issuance of stamp papers and for the verification of receipt of payment & its submission to Sub-Registrar office as the online verification of e-stamp papers has been launched.
• Computerization of Sub-Registrar offices and Linkages between LRMIS and SRO.
  Now, deed is presented at the computer section where all the data entry of the deeds is being done. Digital capturing of thumb impressions, digital pictures and digital capturing of text of registry is being done at the computer section. Than on the same day it is sent into the hard and soft form to the Sub-Registrar. The Sub- Registrar pass the registry on software application as well as on the hard copies. Then registries are being scanned at the computer section and electronically sent to the LRMIS center for mutation. The mutation process is being completed automatically and there is no need to visit the LRMIS center for the execution of the mutation. Both the processes have been automated and linked. Overall duration has been reduce to 15 days instead of 38 days and also cost of registration is fixed PKR 500/- only.
• Computerization of land Records: Procedure 1 has been simplified as land records data has been computerized. Now, Fard can be obtained in just 30 Minutes. Procedure 2- There is no need to publish an advertisement in newspaper for a transaction as all the computerized land records has been published at website and now parties can examine the exact status of land. Moreover, online Fard verification system has also been put in place at the Sub-Registrar offices in order to verify / cross check the particulars of the Fard.
• Improvement in transparency of information available-Land information is available online for free of cost for anyone. Similarly a detail regarding registered deeds is also available online.
• Reliability of Infrastructure Index – All the registered deeds and mutations are fully digital. Can be extracted through any field from the system as well as all the registered deeds are being scanned.

10. Trading Across Borders

• The I-form and E-form have been integrated into Web Based One Customs (WeBOC) along with certificate of origin. This enables importer and exporter to access it online, pre-fill and complete the required documentation for customs clearance without having to visit several regulatory contact points.
• Integrated WeBOC with three departments involved in clearances – Plant Protection, Seed Certification and Animal Quarantine. This means clearance information from these departments can be accessed online and creates ease for the traders in knowing the status of their containers/shipment much faster.
• FBR Customs wing, department responsible for creating easier cross-border trade has introduced e-payment system for online payment of duty, taxes and all other charges. This will allow faster payment of Custom-related duties, taxes and levies. It includes enabling payment through ATMs which is easier for users, as compared to online payment mechanisms.