ISLAMABAD: Minister for Finance and Revenue Muhammad Aurangzeb held meeting with Scott Jacobs, Managing Director of Jacobs, Cordova and Associates to discuss regulatory reforms in Pakistan.

As per statement released by Finance Division, meeting focused on subject of reforms aimed at improving regulatory environment in country to improve entrepreneurship, innovation and investment. "Jacobs presented comprehensive proposal to streamline regulatory system, suggesting thorough review of standardized processes to achieve significant results," read statement. Jacobs, Cordova and Associates is US-based consulting firm, specialising in designing and implementing improvements in quality of government regulators and regulations, based on multidisciplinary approaches of microeconomics, rule of law, and new public management. Meanwhile, during meeting, Aurangzeb acknowledged importance of these reforms and underscored need for impact-driven assistance to ensure successful implementation of these reforms. 

"Discussions centered on identifying specific areas where reforms are urgently needed to optimise operations and regulatory frameworks. "Both parties agreed on importance of structured approach to regulatory reforms," added statement. Secretary Board of Investment and officials from relevant ministries/divisions were also present in meeting.  "We have to move forward because we do not have space and room anymore to defer this agenda," he said.