Karachi: Mian Zahid Hussain, a prominent business leader and former Provincial Minister of Information Technology, has advocated for regulatory reforms in Pakistan's dairy and beverages sector to enhance investment, value addition, and exports. He welcomed the Prime Minister's recent directive to the Federal Board of Investment to simplify and digitalize the regulatory framework, suggesting that similar efforts should extend to other industries to bolster local businesses and improve their competitiveness on the global stage.
According to Pakistan Businessmen and Intellectuals Forum, Hussain highlighted several bureaucratic hurdles that currently hinder the dairy and beverages industry, such as redundant licenses, repeated document submissions, and overlapping inspections by various authorities. He emphasized that these challenges inflate business costs and deter investments, particularly affecting smaller enterprises. Streamlining regulatory processes could significantly alleviate these burdens, potentially reducing documentation requirements by over half and saving approximately Rs58.41 billion annually.
Hussain also stressed the necessity of abolishing unnecessary permits, consolidating essential requirements, and conducting risk-based inspections. He noted that despite being the fourth-largest milk producer globally, Pakistan processes only a small fraction of its milk for value addition, with substantial losses due to inadequate cold-chain facilities and inefficient transportation. Similar challenges in the fruit sector impede the country's ability to convert its significant production into exports.
He proposed setting clear economic targets for regulatory bodies to attract new investments and foster modernization within the dairy and beverages industry. Additionally, he called for a comprehensive review of regulations across various sectors, including textiles, pharmaceuticals, and information technology, to further stimulate business growth and align oversight with public health and safety standards.