The New Nation - Internet Edition

ONE of the initiatives on the part of the immediate past caretaker government was to establish mechanisms to carry out reforms to facilitate honest businesses. The government formed the Better Business Forum (BBF) in 2007 with participation of the policy makers of the highest level. The BBF also incorporated business leaders. The aim of this body was the formulation of concrete policies and measures through consultation between government and businesses under the auspices of this forum to subsequently implement those to build a more conducive business environment.

According to the last available media reports, BBF made 126 recommendations for the short, medium and longer terms. The six short term proposals were met but only half of the 56 medium-term proposals had been implemented, while 64 others of the long term proposals remained pending for either further review or implementation. The caretaker government had also launched the Regulatory Reforms Commission (RRC) with the objective of removing obsolete rules and regulations to promote business activities. Full implementation of many of the reforms recommended by the BBF depends on the rewriting annulment, substitution, amendments or enlargement of laws pertaining to different areas of business activities. The RRC, since its inception on November 19, 2007, formulated 11 interim reports and sent these for approval and implementation.

Businesses and all concerned ones are of the view that the reform activities should be continued now by the elected government. They want the BBF and the RRC to have long life for the economy and the country to get the benefits of their good work. None from among the top figures of the new government has stated unequivocally whether these bodies would be retained and their potentials harnessed with the same enthusiasm.