PSW council extends deadline for border trade integration

Published March 15, 2022
Finance Minister Shaukat Tarin presides over a meeting of the Pakistan Single Window Gover­ning Council in Islamabad on Monday. — PID
Finance Minister Shaukat Tarin presides over a meeting of the Pakistan Single Window Gover­ning Council in Islamabad on Monday. — PID

ISLAMABAD: Pakistan Single Window (PSW) Gover­ning Council on Monday extended the deadline to June for implementing the first phase of the much important project of border trade from the earlier announced March.

The council meeting was chaired by Finance Minister Shaukat Tarin. Member Customs Operation Tariq Huda briefed the meeting about the progress so far made.

Until the last meeting, the government was determined and publically announced to roll out the first phase by end of the current month.

The project is believed to bring $500 million in annual savings and reduce cargo clearance time from days to hours by integrating over 75 regulatory departments.

An official announcement of the meeting said that the council was informed that the PSW programme is on course and will complete its first phase before June.

The PSW is a requirement under the WTO’s Trade Facilitation Agreement, which was launched in 2013 and Pakistan ratified it in October 2015.

An official announcement issued after the meeting said that the meeting review the progress of PSW implementation. Mr Huda briefed the participants on the implementation status of previous decisions of the council.

The chief executive officer of the PSW Company gave a presentation on the progress already made and highlighted key challenges.

Mr Tarin expressed the government’s complete support and commitment to the PSW initiative aimed at facilitating trade and improving regulatory compliances.

Published in Dawn, March 15th, 2022

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Smog hazard
Updated 05 Nov, 2024

Smog hazard

The catastrophe unfolding in Lahore is a product of authorities’ repeated failure to recognise environmental impact of rapid urbanisation.
Monetary policy
05 Nov, 2024

Monetary policy

IN an aggressive move, the State Bank on Monday reduced its key policy rate by a hefty 250bps to 15pc. This is the...
Cultural power
05 Nov, 2024

Cultural power

AS vital modes of communication, art and culture have the power to overcome social and international barriers....
Disregarding CCI
Updated 04 Nov, 2024

Disregarding CCI

The failure to regularly convene CCI meetings means that the process of democratic decision-making is falling apart.
Defeating TB
04 Nov, 2024

Defeating TB

CONSIDERING the fact that Pakistan has the fifth highest burden of tuberculosis in the world as per the World Health...
Ceasefire charade
Updated 04 Nov, 2024

Ceasefire charade

The US talks of peace, while simultaneously arming and funding their Israeli allies, are doomed to fail, and are little more than a charade.