Prime Minister Shehbaz Sharif has formed a four-member committee called the Cabinet Committee on Regulatory Reforms (CCoRR) to make policy decisions regarding the comprehensive reform process, ensuring swift implementation while adhering to legal provisions.

The committee will include:

(i) Minister for Investment/Chairman, BoI (Chairman);
(ii) Minister for Commerce (Member);
(iii) Minister for Industries & Production (Member);
(iv) Minister of State for Finance & Revenue (Member).

The committee may co-opt additional members as needed.

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The Terms of Reference (ToRs) of the Cabinet Committee are as follows:

(i) Review and approve the legislative and regulatory reform process for the implementation of Asaan Karobar Act;
(ii) Ensure diligent adherence to the approved reform process and obtain necessary evidence through reviews;
(iii) Approve the initial list/areas of reforms considered most problematic for reform recommendations by December 25, 2024;
(iv) Approve an ‘Appeals’ process to allow the relevant Minister-in-Charge to justify a position against reform proposals;
(v) Conduct the ‘Appeals’ process and decide in favor or against any challenged recommendation;
(vi) Review and approve recommendations to eliminate and/or revise legislation, regulations, procedures, and other requirements to improve the business environment;
(vii) Make policy decisions to ensure fast-track implementation while maintaining compliance with legal provisions;
(viii) Consider and approve any other reform recommendations to ease the business environment and facilitate investment;
(ix) Monitor the overall progress of the Asaan Karobar Project and ensure timely delivery of agreed milestones, including the establishment and operationalisation of the legal registry;
(x) Assign other tasks related to easing the business environment and investment climate to the Board of Investment.