TNF
No Result
View All Result
  • Login
  • Home
  • National
  • World
  • Politics
  • Economy
  • Health
  • Culture
  • Lifestyle
  • Controversies
  • Interviews
  • Tech
  • Opinion
  • Home
  • National
  • World
  • Politics
  • Economy
  • Health
  • Culture
  • Lifestyle
  • Controversies
  • Interviews
  • Tech
  • Opinion
No Result
View All Result
TNF
No Result
View All Result
Home Economy

Pakistan Customs Joins TradeLens as First Authority in region to Digitize Supply Chains

By joining the blockchain-underpinned platform TradeLens, Pakistan Single Window is supporting Customs in modernising its import-export documentation through a safe & secure, paperless, digital solution to strengthen its controls against trade-based money laundering.

TNF by TNF
December 28, 2021
Reading Time:3 mins read
3
Pakistan Customs Joins TradeLens as the First Authority in the Region to Intensify Efforts in Digitizing Supply Chains

On behalf of Pakistan Customs, the Pakistan Single Window Company today signed an agreement with TradeLens, a blockchain-underpinned logistics platform supported by 5 of the 6 largest ocean carriers globally, to digitize import-export documentation of the containerized cargo moving in and out of the country. Pakistan’s international trade ecosystem is being rapidly transformed through the introduction of technology driven initiatives led by the Pakistan Single Window and the country’s authorities recognize the potential benefits of digitizing supply chains for efficiencies, enhanced transparency, and data-driven decision making.

RELATED POSTS

There is a Looming Water Crisis in Pakistan

Yasin Malik is the symbol of freedom for Kashmir

Overseas Pakistanis can still vote for Parliament

“Our Government is committed to bring ease of doing business for the importers and exporters of Pakistan. We are making a determined effort to move away from complex, manual, paper-based documentation towards digital solutions that drives value for trade”, said Advisor to the Prime Minister on Finance and Revenue Mr. Shaukat Tarin. He added, “Joining the TradeLens platform is allowing us to enhance our ecosystem in a way that all the involved stakeholders get access to a transparent and secure platform that makes processes more efficient.”

Cross-border containerized supply chains are some of the largest and most complex business ecosystems in the world today. It is not uncommon for 30 independent parties, 100 people and up to 200 exchanges of information to be connected to a single shipment. With increased complexity comes increased cost. Shippers or beneficial cargo owners (BCOs) need consistent, auditable and immutable data from multiple sources to effectively manage their supply chains.

The authorization to sign the collaboration came from the PSW Governing Council chaired by Mr. Shaukat Tarin. The Chief Executive Officer of PSW Aftab Haider formally signed the agreement with Irtaza Hussain, the Regional Head of Network for TradeLens at IBM.

PSW integration with TradeLens will help Pakistan Customs and other trade regulators to improve their operational efficiency and create value through the blockchain platform. The immutability of Blockchain-underpinned document information is important in the identification of illegal activities, as well as, improving the smooth operation of legal trade.

Marvin Erdly, Head of TradeLens at IBM. commented “The growth of the TradeLens’ network is evidence that participants from all across the supply chain ecosystem can derive significant value through digital collaboration.  Pakistan now joins an increasing number of connected Customs Authorities on the TradeLens platform exploring innovative solutions to enhance global trade access and enhance process efficiencies for all involved”.

TradeLens is a neutral platform which brings together data from the entire global supply chain ecosystem including shippers and cargo owners, 3PLs and freight forwarders, intermodal operators, customs and government authorities, ports and terminals, and several ocean carriers. This data allows TradeLens and its network partners to modernize manual and paper-based documents by replacing them with blockchain-enabled digital solutions. It also allows the network partners to provide their customers with deeper visibility into the entire journey for their cargo from origin to destination and reduce uncertainty allowing for better planning and reduced inventory costs.

More from TNF: What’s the relation between Pakistan’s Absolutely Not and FATF Grey List

We never thought Taliban will take over Afghanistan so easily: Tahir Khan

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 such as 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.

TradeLens is an open and neutral industry platform underpinned by blockchain technology, supported by major players across the global shipping industry. The platform promotes the efficient, transparent and secure exchange of information in order to foster greater collaboration and trust across the global supply chain.

Tags: BlockchainIBMMoney LaunderingPakistan CustomsPakistan Single WindowTradeLens
ShareTweetSend
TNF

TNF

Related Posts

There is a Looming Water Crisis in Pakistan
Featured

There is a Looming Water Crisis in Pakistan

May 28, 2022
Yasin Malik is the symbol of freedom for Kashmir
Featured

Yasin Malik is the symbol of freedom for Kashmir

May 27, 2022
Overseas Pakistanis can still vote for Parliament
Featured

Overseas Pakistanis can still vote for Parliament

May 27, 2022
Pakistan issues heat wave alert
Featured

Pakistan issues heat wave alert

April 29, 2022
Pakistan's military spending decreased during PTI Government
Featured

Pakistan’s military spending decreased during PTI Government

April 27, 2022
Mini Budget session at parliament
Economy

Mini Budget: An Overview of The Way Forward

January 27, 2022
Next Post
CPEC Eastern Route completes

79% of CPEC Eastern Route completes, 21% remaining

Services International Hotel's privatization

Services International Hotel's privatization transaction completes

Comments 3

  1. Pingback: Tarin hopeful for broadening the trade, economic relations with GCC - TNF
  2. Pingback: Pakistan trade deficit doubles in 6 months - TNF
  3. Pingback: Pakistan assumes chairmanship of the Group 77 - TNF

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended Stories

PTI launches Naya Pakistan National Health Card

PTI launches Naya Pakistan National Health Card

January 26, 2022
Pakistanis buy 27000 new cars in July 2021

Pakistanis buy 27000 new cars in July 2021

August 12, 2021
How Big Is The External Debt Problem In Pakistan? 

How Big Is The External Debt Problem In Pakistan? 

April 12, 2021

Popular Stories

  • Zahir Jaffer and Noor Muqaddam

    All You Need to Know About Zahir Jaffer and Noor Muqaddam

    0 shares
    Share 0 Tweet 0
  • Current Challenges Faced by Pakistan Textile Industry 

    0 shares
    Share 0 Tweet 0
  • Zahir Jaffer confronts Noor’s father in court, seeks pardon

    0 shares
    Share 0 Tweet 0
  • Jaffar Brothers distances itself from Zahir Jaffer

    0 shares
    Share 0 Tweet 0
  • US Embassy issues official statement on Zahir Jaffer

    0 shares
    Share 0 Tweet 0
TNF

The National Frontier is a publication focusing on regional and global issues, borders and frontiers across the world.

Recent Posts

  • A New Challenge: Forest Fires in Pakistan
  • There is a Looming Water Crisis in Pakistan
  • Yasin Malik is the symbol of freedom for Kashmir

Categories

  • Business
  • Controversies
  • Culture
  • Economy
  • Featured
  • Health
  • Interviews
  • Lifestyle
  • National
  • Opinion
  • Politics
  • Tech
  • Travel
  • Uncategorized
  • World

About Us

  • About TNF
  • Our Contributers
  • Subscribe
  • Privacy Policy
  • Advertise
  • Contact Us

© Copyrights 2021 The National Frontier. Powered by Effiesoft

No Result
View All Result
  • Home
  • National
  • World
  • Politics
  • Economy
  • Health
  • Culture
  • Lifestyle
  • Controversies
  • Interviews
  • Tech
  • Opinion

© Copyrights 2021 The National Frontier. Powered by Effiesoft

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?