Digital Economy Upgrade: Government to Launch Dedicated Business Portal

The Pakistani government is preparing to introduce an innovative initiative focused on modernizing regulatory frameworks and creating a more favorable environment for businesses. Aligned with the objectives of the World Bank’s Digital Economy Enhancement Program (DEEP), the government plans to launch the Pakistan Business Portal (PBP). This transformative platform aims to modernize interactions between businesses and government entities at the federal, provincial, and municipal levels.

According to Ministry of IT and Telecom, the Pakistan Business Portal is poised to become the central element of the DEEP initiative. Its primary goal is to simplify regulatory procedures and improve the business environment in Pakistan. By digitizing and streamlining compliance processes, the portal aims to accelerate the country’s digital transformation and stimulate economic development.

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In the initial phase of the project, there will be a thorough examination and organization of registrations, certificates, licenses, and other regulatory prerequisites from around 800 government agencies. This meticulous review will provide the foundation for pinpointing areas that need improvement and executing reforms to enrich Pakistan’s business landscape.

An interim Project Management Unit will be set up within the Ministry of IT and Telecom to supervise the development and implementation of the DEEP program. This temporary unit will be responsible for managing the DEEP project. Moreover, it will ensure its efficient execution, and maintain alignment with predefined timelines and goals.

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The Digital Economy Enhancement Program project, backed by a funding package of $149.7 million, is sanctioned by the World Bank’s Board of Executive Directors. It reflects the global community’s dedication to Pakistan’s digital transformation strategy. It has a substantial portion of the funding earmarked for the creation of the Pakistan Business Portal. The government is poised to utilize digital platforms to broaden service accessibility and enhance operational efficiency within the business landscape.

Additionally, to put emphasis on regulatory modernization, the DEEP initiative is set to introduce innovative solutions. One of the examples is the establishment of the Civic Innovation and Technology Labs (CITL) initiative. This endeavor will leverage open government data to stimulate innovation and entrepreneurship within the country.