Pakistan Single Window to save $500m, says PM

Published April 13, 2021
Prime Minister Imran Khan on Monday said the implementation of Pakistan Single Window (PSW) will bring $500 million annual savings. — DawnNewsTV
Prime Minister Imran Khan on Monday said the implementation of Pakistan Single Window (PSW) will bring $500 million annual savings. — DawnNewsTV

ISLAMABAD: Prime Minister Imran Khan on Monday said the implementation of Pakistan Single Window (PSW) will bring $500 million annual savings and reduce cargo clearance time from days to hours by integrating over 75 regulatory departments.

The premier in his tweet said the PSW Act 2021 will pave the way for ease in imports and exports.

Last week the Federal Board of Revenue (FBR) inaugurated the PSW Company in Islamabad as part of compliance with the Trade Facilitation Agree­ment (TFA) of the World Trade Organisation (WTO).

The premier said that the PSW will integrate 75 regulatory departments including customs, banks, port authorities, shipping companies, brokers, etc.

He went on to say that an independent authority will manage the PSW, which will be pivotal in unlocking Pakistan’s potential to become a hub for international transit and trade.

The PSW is a requirement under the TFA which was launched in 2013 and Pakistan ratified it in October 2015.

The PSW was rolled out almost a year before its deadline of June 2022 at a cost of $67 million through indigenous development effort.

Prime Minister Imran Khan had tasked Customs to complete this highly transformational project for reducing time, cost and complication while ensuring better compliance with cross-border trade regulations.

The PSW Company has been operationalised to maintain complete ownership of entire cross-border trade, related logistics and financial transactions.

Published in Dawn, April 13th, 2021

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

Opinion

Editorial

‘Source of terror’
29 Mar, 2024

‘Source of terror’

ALTHOUGH dealing with the presence of terrorist groups in Afghanistan is a major political, security and strategic...
Chipping in
29 Mar, 2024

Chipping in

FEDERAL infrastructure development schemes are located in the provinces. Most such projects — for instance,...
Toxic emitters
29 Mar, 2024

Toxic emitters

IT is concerning to note that dozens of industries have been violating environmental laws in and around Islamabad....
Judiciary’s SOS
Updated 28 Mar, 2024

Judiciary’s SOS

The ball is now in CJP Isa’s court, and he will feel pressure to take action.
Data protection
28 Mar, 2024

Data protection

WHAT do we want? Data protection laws. When do we want them? Immediately. Without delay, if we are to prevent ...
Selling humans
28 Mar, 2024

Selling humans

HUMAN traders feed off economic distress; they peddle promises of a better life to the impoverished who, mired in...