Govt to Draft Bankruptcy Law to Attract Investors
Staff Report :
The government has decided to draft the bankruptcy law to attract local and foreign investors.
Mr. Haroon Akhtar Khan announced the formation of a sub-committee to draft and evaluate proposals for the bankruptcy law.
A meeting of the Prime Minister’s Committee on the introduction of Bankruptcy Law was held on Friday under the chairmanship of Special Assistant to the Prime Minister, Mr. Haroon Akhtar Khan.
The session emphasized the importance of creating a conducive environment for investment in line with the vision of Prime Minister Muhammad Shehbaz Sharif.how to contact angel investors
Expressing concern over the absence of a structured bankruptcy framework in Pakistan, the committee highlighted that it has been a longstanding gap in the country’s investment ecosystem.
Mr. Haroon Akhtar Khan noted that restoring the confidence of international investors is a top priority of the government.
He reiterated the government’s commitment to aligning Pakistan’s investment climate with global standards and emphasized that the introduction of a bankruptcy law would be a vital step in this direction.
To facilitate the formulation of the law, the committee reviewed international best practices and legal models from other countries. Mr. Haroon Akhtar Khan announced the formation of a sub-committee to draft and evaluate proposals for the bankruptcy law.
During the meeting, economists, legal experts, and representatives from the business and investment community shared valuable insights and recommendations to ensure that the new law addresses the needs of both local and foreign investors.
The Ministry of Industries and Production will continue to engage stakeholders in the coming weeks as the framework for the bankruptcy law is developed.
