He stated that several ministries have proposed the removal of a large number of regulations under their jurisdiction but many others have failed to pay due attention to this task.
Therefore he requested that all ministers and heads of ministerial-level agencies should be made fully aware that cutting regulations is an important measure to boost growth and they need to expend greater efforts to fulfil this task.
The PM set August 15 as the deadline for ministries and agencies to finalise and submit their plans on reducing quality inspections and simplifying business regulations.
He added that quality inspections and business regulations must be cut and simplified by at least 50% while banning the addition of unnecessary and unlawful regulations that increase the cost burden on enterprises.
The results of the streamlined regulations must be publicised as soon as they are approved.