ISLAMABAD: Pakistan Single Window Company (PSWC) on Tuesday signed an agreement with TradeLens, a blockchain-underpinned logistics platform supported by five of the sixth largest ocean carriers globally, to digitise import-export documentation of the containerised cargo moving in and out of the country.

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

An announcement of the company said Pakistan’s international trade ecosystem is being rapidly transformed through the introduction of technology-driven initiatives and the country’s authorities recognise the potential benefits of digitising supply chains for efficiencies, enhanced transparency and data-driven decision-making.

“Our government is committed to bringing ease of doing business for the importers and exporters. We are making a determined effort to move away from complex, manual, paper-based documentation towards digital solutions that drives value for trade,” said Finance Minister Shaukat Tarin.

“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,” Mr Tarin added.

PSWC 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.

PSWC is an initiative of the government with a focus on transforming the trade and industry ecosystem. It encompasses several aligned smaller initiatives to support PSWC’s cause of transforming trade such as business processes re-engineering, integrated risk management, ports community systems, the introduction of new technology for trade management, data standardisation and harmonisation and integrated tariff management system.

Published in Dawn, December 29th, 2021