The Pakistan Single Window (PSW) will reduce time, cost and complications while contributing significantly to the ease of doing business and will enable the country to become a hub of regional as well as international trade and transit, said Federal Minister for Finance and Revenue Shaukat Tarin.
Presiding over the first meeting of PSW governing council on Friday, the finance minister said that deep-rooted reforms were being undertaken under the PSW programme, which would promote trade competitiveness with enhanced transparency and efficiency.
“The new system will leverage information and communication technology to ensure better compliance with cross-border trade regulations,” said Tarin.
He commended efforts of Pakistan Customs as the lead agency of PSW, a programme which would take Pakistan’s trade to the “next level”.
On the occasion, the governing council secretary briefed the finance minister about PSW, a virtual system which was connecting concerned ministries, Customs, port authorities, banks and other relevant departments after major process re-engineering to provide a single window for management of international trade.
“PSW is a facility that allows parties involved in trade and transport to lodge standardised information and documents at a single registration point, which eliminates hidden costs and removes inefficiencies in governance of international trade including logistics,” he said.
He said that first phase of the PSW programme had been rolled out, while its second and third phases would be completed within the next two years.
“The implementation of PSW will make Pakistan’s ports competitive by minimising the transaction cost and also enhance efficient provision of business-to-business and business-to-consumer value-added services,” he said. “The cargo will be cleared in a minimum possible time.”
Over 75 regulatory departments would be fully integrated through the 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 the PSW 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.
The finance minister is the chairperson of PSW governing council, which also includes secretary commerce, secretary Ministry of National Food Security and Research, secretary maritime affairs, secretary science and technology, secretary Narcotics Control Division, member Customs operations and CEO PSW Company.
Published in The Express Tribune, September 25th, 2021.
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