PSWP To Cut Cost Of Doing Business

PSWP to cut cost of doing business

LAHORE, Oct. 27 (UrduPoint / Pakistan Point News - 28th Oct, 2021 ) :Pakistan Single Window Programme (PSWP) Project Director Muhammad Imran Khan Mohmand said on Wednesday that PSW Programme would reduce the cost of doing business and minimize the interface between the taxpayers and collectors.

He was addressing a workshop on PSWP organized by All Pakistan Textile Mills Association (APTMA) Northern Zone for its members here at APTMA House.

He said the facility has been designed to reduce time, cost, and complexity to ensure ease of business, besides supporting the government agencies in adopting an integrated risk management approach for efficient enforcement of control on cross-border trade.

Under the PSWP platform, he said, an ICT-based port community system will also be established and all stakeholders including FIA, Customs, terminal operators, ports, shipping lines, banks and other concerned entities will be integrated for efficient cargo management at seaports, airports, dry ports, and land border crossings.

He said the project will unlock the country's potential in becoming a hub for regional as well as international trade and transit.

The PSWP is a facility that allows parties involved in trade and transport in Pakistan to lodge standardized information and documents at a single registration point. This eliminates hidden costs and removes inefficiencies in the governance of international trade including logistics, he added.

He said, over 75 regulatory departments including customs, banks, port authorities, shipping companies, brokers, etc.

, will be fully integrated through ICT based system, providing a single point of entry to facilitate trade across borders with minimal need for any physical contact.

It would connect the Web-based One Customs (WeBOC) system with the Customs, banking channels and other institutions to increase efficiency and reduce the time taken for processing in various departments, he elaborated.

This will enhance ease of doing business in Pakistan and as a result, it will improve country's image and attract foreign direct investment. Pakistan has an important geostrategic location and it can become a regional trade hub, provided that the difficulties in the current system to manage international trade are overcome, he added.

APTMA Chairman Abdul Rahim Nasir termed it as an ideal situation and said the implementation of the National Single Window system is also a commitment under the Trade Facilitation Agreement of World Trade Organisation (WTO).

Rahim said that 2.4 million containers were traded for either imports or exports last year. Licenses, permits and other documents issued for imports or exports not only took time but also cost money, which was paid by businessmen.

Kamran Arshad presented a vote of thanks to the Project Director and hoped that such interactions between the Authority and the Association would continue in future as well.