MEMBERS of Parliament must be strategic partners in ensuring that regulators do not stifle private sector business growth, says Sharon Sichilongo.
In a statement, Sichilongo, who is Business Regulatory Review Agency director, stated that all regulators should comply with guidelines and principles in order to get approval for proposed regulations that affected business.
“The statement by Honourable Margaret Mwanakatwe is indeed an invitation to Cabinet Ministers and members of parliament to become strategic partners in ensuring that regulators do not stifle private sector growth through poor quality regulations,” Sichilongo stated.
On March 24, Mwanakatwe presented a ministerial statement in Parliament on the Business Regulatory Act Number 3 of 2014 and the status of its implementation.
Mwanakatwe urged all regulators to contribute to the creation of sound and high quality regulations that supported private sector growth.
“The Act in Section 6 (1) clearly states that: A public body shall only submit to Cabinet for approval a policy or proposed law to regulate business activity if the policy or proposed law has the prior approval of the Business Regulatory Review Agency,” Sichilongo stated.
“Further, the Act requires that regulators undertake a Regulatory Impact Assessment (RIA) on any proposed policy, law or regulation that will affect the business environment before its introduction.”
Sichilongo revealed that the Business Regulatory Act required that a public body notifies her organisation of their intention to introduce a policy or proposed law to regulate business activity at least two months before submission to Cabinet.