Pakistan Single Window to reduce port cost substantially: official

Staff Reporter BOL News

24th Sep, 2021. 08:23 pm
CPEC ushers in new era of economic prosperity Tarin

ISLAMABAD: The Pakistan Single Window (PSW) is a facility that allows parties involved in trade and transport in Pakistan to lodge standardised information and documents at a single registration point, eliminating the hidden costs and removes inefficiencies in governance of international trade, including logistics.

This was stated during the maiden meeting of the Governing Council of Pakistan Single Window held at the Finance Division under the chair of Federal Minister for Finance and Revenue Shaukat Tarin.

The Governing Council secretary briefed the finance minister about the Pakistan Single Window, a virtual system, which is connecting the relevant ministries, Customs, port authorities, banks and other departments after major process of re-engineering to provide a single window for the management of international trade.

The secretary also said the first phase of PSW programme has been rolled out, while its second and third phases will be completed within the next two years.

The implementation of PSW will make Pakistani ports competitive by minimising the transaction costs and also enhance efficient provision of B2B and B2C value-added services, the official said, adding that the cargo would be cleared in a minimum possible time.

Over 75 regulatory departments will be fully integrated through ICT-based system, providing a single point of entry to facilitate trading across borders with minimal need for any physical contact, he added.

The Governing Council is the apex body in the approved business model of PSW under Pakistan Single Window Act, promulgated in April this year.

It comprises key stakeholders and prominent private sector subject specialists to oversee timely completion of this important project, while removing hurdles in its implementation.

Finance Minister Tarin is the chairperson of PSW’s Governing Council, which also includes Commerce, Ministry of National Food Security and Research, Maritime Affairs, Science and Technology, Narcotics Control Division secretaries, member Customs Operations and PSW Company CEO.

Train appreciated the progress and said that the Pakistan Single Window will reduce time, cost and complications, while contributing significantly towards the ease of doing business in the country.

PSW will enable Pakistan to unlock its potential in becoming a hub for regional, as well as international trade and transit. Deep-rooted reforms being undertaken under the PSW programme by the government will promote trade competitiveness with enhanced transparency and efficiency.

The new system will leverage information and communication technology to ensure better compliance with the cross-border trade regulations.

The finance minister commended the efforts of the Pakistan Customs, as the lead agency of the PSW programme and all those who have been part of PSW, a transformational project, which will take Pakistan’s trade to the next level. He affirmed full support and facilitation on the occasion.

Among others, federal secretary for Narcotics Akbar Durrani, additional secretary Commerce, additional secretary Economic Affairs Division, member Customs, FBR and senior officials of the Ministry of National Food Security and Research, Ministry of Health, Ministry of Science and Technology, and Ministry of Maritime Affairs participated in the meeting.

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