ISLAMABAD: Federal Revenue Council Chairman Javed Ghani on Friday inaugurated the Pakistan Single Window Company (PSWC) as part of compliance with the World Trade Organization’s trade facilitation agreement.
The PSWC was deployed almost a year ahead of the June 2022 deadline set under the World Trade Organization’s trade facilitation agreement.
An official announcement said that the chairman of the RBF also praised Pakistani customs for reducing the cost of the project from initial estimates of $ 163 million to $ 67 million through local development efforts.
Prime Minister Imran Khan tasked Customs with carrying out this highly transformational project to reduce time, costs and complications while ensuring better compliance with cross-border trade regulations. To ensure that this new system is implemented in a timely manner and maintained in a sustainable manner, the PSWC has been operationalized by FBR.
The PSWC now allows the government to retain full ownership of this mission-critical system of strategic national significance, as it would handle all cross-border trade, related logistics and financial transactions.
Customs operation member Tariq Huda has stated on occasion that the Customs Administration is leveraging its automation expertise for PSWC to support a wide range of other public and private sector entities involved in the regulation of imports, exports and transit trade.
The ongoing digitization of the public sector entities involved in this project will significantly improve their efficiency.
The PSWC is instrumental in making Pakistan a preferred route for international transit and transshipment further, it will help integrate future national, regional and global Single Window systems.
Posted in Dawn on April 3, 2021
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