Pakistan Single Window (PSW) has enhanced its operations through addition of subscription and banking modules in its platform. Advisor to the Prime Minister on Finance Mr. Shaukat Tarin was the Chief Guest at the event. The ceremony was addressed by Chief of Party of Pakistan Regional Economic Integration Activity, Deputy Mission Director of USAID, representatives of FPCCI and SBP. The event was attended by members of business community, international development partners and several stakeholders.
Speaking at the event, the Advisor to the Prime Minister on Finance and Revenue, Mr. Shaukat Fayaz Ahmed Tarin, said, “The Pakistan Single Window concept and its framework is the embodiment of this government’s vision of deep meaningful reforms impacting all sectors and every aspect of government, promoting trade competitiveness with enhanced transparency and efficiency.”
The event marks the milestone achievements of PSW by introducing subscription mechanism and integration of banks into its system. The introduction of these two new modules will significantly help in ease of doing business in Pakistan. The subscription module lets users subscribe and access PSW’s services in a matter of minutes and removes multiple obstacles and unnecessary regulatory requirements in getting a user ID for customs and other regulatory clearances.
Chief Executive Officer of PSW Aftab Haider formally welcomed the participants and shared a presentation on the scope and mandate of the organization. “PSW will help transform the trade and it will significantly help in ease of doing business in Pakistan,” he added.
The integration of banking module will allow users to conduct their financial transactions in a seamless manner by eliminating SBP mandated Electronic Import Forms (EIF) and Electronic Form for Exports (EFE) forms.
“This project will help reduce the time and cost of doing business in Pakistan, and it will unlock the country’s potential to become a hub for regional and international trade and transit,” stated USAID Deputy Mission Director David Young at the inauguration. “By making trade simpler, the Pakistan Single Window will help to unlock Pakistan’s economy.”
What is Pakistan Single Window?
The Pakistan Single Window enables parties involved in trade and transport to register standard information and documents with a single-entry point and thereby fulfill all import, export, and transit-related regulatory requirements. Previously, traders were required to secure approval from a variety of government offices, duplicating efforts and paperwork, which led to increased costs and delays. Today’s announcement rolled out the Subscription and Customs Registration system, along with the Commercial Bank integration module, which are the first steps in helping to reduce these costs and delays, and which will benefit consumers and businesses alike.
Pakistan Single Window (PSW) is an initiative of Pakistan’s federal government with a focus of transforming the trade and industry ecosystem. The program encompasses several aligned smaller initiatives to support PSW’s cause of transforming trade.
PSW encompasses multiple endeavors related to business processes re-engineering, integrated risk management, ports community systems, introduction of new technology for trade management, data standardization and harmonization and integrated tariff management system.