By : Hafiz Ejaz Bashir
Economic growth is measured by an increase in gross domestic product (GDP), which is defined as the combined value of all goods and services produced within a country in a year. Many forces contribute to economic growth. However, there is no single factor that consistently spurs the perfect or ideal amount of growth needed for an economy.
Unfortunately, recessions are a fact of life and can be caused by external factors such as geopolitical and geofinancial events.Economic growth often is driven by consumer spending and business. investment Infrastructure spending is designed to create construction jobs and increase productivity by enabling businesses to operate more efficiently.
Development strategies are not implemented overnight. The Sustainable Development Goals (SDGs) are a 15-year global endeavour and Planning for such distant horizons requires a stable source of financing. Many developing countries that depend on only a few commodities are deprived of that luxury. Without diversification, they are highly susceptible to price shocks and shifts in investment cycles.The current favourable economic winds open a window of opportunity for countries to restructure and broaden their source of revenue through fiscal reform.
Weak governance and political instability remain fundamental obstacles to achieving the SDGs and economic growth in many parts of the world. Some years ago capital started flowing back to the developing countries, but it may pull out again at the very first sign of trouble, unless states can improve their legal institutions, administrative capacities, transparency and business environment.
The Business Facilitation Centre (BFC) is a flagship initiative of the Government of the Punjab to help facilitate the business community, home and abroad by providing a host of services under one roof. These services include obtaining NOCs, licenses and permits etc necessary for starting and scaling up business. The initiative aims at reducing business barriers by connecting multiple government agencies through a software application. It is anticipated that the initiative would substantially contribute to creation of an enabling environment for the businesses, thereby fostering enterprise creation and operations.
Dedicated staff, comprising of Business Facilitation Officers (BFOs) and representatives of seventeen (17) government agencies, including two federal government agencies i.e. LESCO and SNGPL have been deputed for processing and coordinating applications of the walk-in clients. This knowledge repository is a compendium of NOCs licenses, permits etc. and their corresponding details (i.e. required documents, fees and processing time etc.) for information of the applicants.
“Our dedicated staff at the BFC will guide further and take up the matter hereon. Moving forward, the mapping of inter-departmental processes will ultimately lead to horizontal and vertical integration and a full scale automation of RLCOs by the Punjab Information Technology Board,” Secretary Industries Punjab Ehsan Bhutta said that less human interaction increased transparency and the BFC is based on this very idea.
He said the establishment of the BFS was a great initiative of chief minister Punjab, minister for Industries and all concerned departments.
“Punjab government has done its job and now it is our responsibility to inform our members about BFC and ask them to visit the BFC and avail benefits,” he added.
He believed to aware LCCI members, brochures regarding the BFC had been e-mailed.
“The members have been asked to let LCCI know which NOCs are not available so that the concerned department could be requested to provide the required facility. Ehsan Bhutta said the BFC was a long-standing demand of the business community. The chief minister Punjab had also formed a committee having representation from Chambers of Commerce in Punjab. This committee is chaired by chief minister Punjab himself. He said that a few months ago, Punjab chief minister and Minister Industries Punjab S M Tanveer visited China where they saw this model and planned to implement it in Punjab.
In a strategic move to uptick economic development and attain investments, the government of Punjab has set up a groundbreaking Business Facilitation Center (BFC) in Lahore.
The centre, housed on the ground floor of the Punjab Small Industries Corporation at Alfalah Building Mall Road Lahore, subjects to streamline and expedite the process of getting No objection Certificates (NOCs) and other essential documents related to business operations.
As the Punjab is the largest province in the country in terms of population, the province has prioritised human development, employment generation, and promoting a conducive environment for private businesses. The Industries, Commerce, Investment and Skill Development Department, along with associated entities like Directorate General Industries and various Industrial Estate Development Companies, are actively involved in developing policies to foster commerce and investment in Punjab.
Despite efforts to deregulate the industrial sector, industrialisation in the province faced challenges, notably reflected in the percentage of colonisation in Industrial Estates. To control this, the government initiated a comprehensive study, leading to the establishment of the BFC. Acknowledging that 80 per cent of the required NOCs are issued by a few key departments, the BFC seeks to centralise and automate the process for enhanced efficiency.
The BFC comprises 17 organisations working collaboratively to foster service delivery. This includes departments such as Industries, Commerce, Investment and Skill Development, Environment Protection, Housing, Urban Development, and more. The center operates from 9am to 5pm, Monday to Friday, providing a one-stop-shop for businesses seeking NOCs and related documents.
In order to ensure a smooth experience for businessmen including traders and industrialists, the BFC has offered dedicated parking and employs security measures, including CCTV surveillance. Staff at the center adhere to a specific dress code, ensuring professionalism.
Upon entering the centre, clients are welcomed by receptionists who guide them based on their needs and requirements. Whether applying for NOCs, seeking investment information, or addressing concerns, the businessmen are directed to the relevant departments or counters within the center. The receptionists play a crucial role in ensuring businessmen leave with valuable information, even if the desired service is not available.
Key personnel at the BFC include Business Facilitation Officers (BFOs), Document Controllers, Manager Operations, and Manager BFC. Each role has specific duties, such as tackling client applications, document processing, overseeing daily operations, and ensuring overall center functionality.
Punjab Board of Investment and Trade (PBIT) and Investment Facilitation Center (IFC) actively adding to the BFC’s success by providing investment promotion services, complaint redressal, and monitoring services.
The Punjab Information Technology Board (PITB) serves as the operational hub, offering technical support, maintaining systems, and overseeing the Knowledge Portal. The Knowledge Portal plays a pivotal role in informing clients about required documents, fees, and application processing times.
The Knowledge Portal serves as a vital resource for clients, offering information on NOCs and related processes. Regular updates are crucial, and a structured process involving multiple stakeholders ensures accuracy and timeliness.
Administrative departments, authorities, organisations, and companies involved in the BFC are urged to appoint knowledgeable representatives and adhere to standardised processes.
The establishment of the BFC is a significant milestone to attract investments and promote economic growth. The collaborative approach, involving various departments and stakeholders, asserts the government’s commitment to developing a business-friendly environment. As the BFC becomes operational, its impact on streamlining processes and expediting approvals is expected to contribute positively to Punjab’s economic landscape.
