Pakistan, March 14 -- A governmental body created by a legislature to implement and enforce specific laws, a "regulatory " or a "regulator" would usually have quasi-legislative functions, executive functions, and judicial functions. Many laws govern social and economic matters, such as income tax, environmental laws, occupational health and safety laws, real estate law, employment laws, etc. A regulatory serves two primary functions in govt: implement the laws and enforce the same. Regulations are the means through which a regulatory implements law enacted by the legislature.
While a good regulatory environment is an essential for any nation, high performing regulators are a key lever to encourage innovation across the economy and foster p...