Arsalan Ali

Pakistan’s Single Window (PSW) digitalised cross-border trade is helping to unlock the trade potential by reducing the time and cost of doing business for traders. Syed Aftab Haider, Chief Executive Officer (CEO) of PSW, told WealthPK that the PSW digitises the trade, which will help to boost the trade volume with the neighbouring countries by reducing the time and cost of doing business.

He said that by reducing costs, traders will have more capital to expand their business and integrate with the global supply chain by exploring new markets. He said this platform has a mission to increase the export competitiveness and integrate Pakistan into the international supply chain, adding that it will bring Pakistan in line with other countries that are successfully using a national single window to facilitate the trade activities.

Aftab elaborated that the PSW is an integrated electronic platform that allows parties involved in international trade and transport to lodge standardised information and documents at a single-entry point. He said this platform will facilitate connections between more than 77 regulatory authorities, enabling local and international exporters. He said Pakistan is strategically located to become a hub for international transit and trade. “The PSW would offer major services such as government-to-business payments as well as business-to-business payments,” he said.

Aftab said if a container reaches the port, or a truck crosses the border, the system (PSW) will inform the State Bank of Pakistan (SBP), traders, customs, and all concerned departments for a joint investigation. He said it will help to reduce delays and difficulties in processing cargo and will reduce costs, adding that this system will help to save the cost of $500 million annually that traders have been facing for routine time-consuming documentation procedure. The PSW CEO said the new digital platform will transform this trading landscape. He said the PSW will integrate cross-border customs procedures and other government agencies, making trade faster, easier, and cheaper.

He said Pakistan’s custom automated system WeBOC clears around 95% of international export and import electronically, but traders still comply with non-custom regulations set by various government agencies that mostly use paper-based systems. He said traders will be able to submit customs declarations, permits, and other information required by several government agencies through a single digital portal. He added that complete and updated fiscal, regulatory, and statistical information will be easily available through the PSW.

The PSW CEO said that obtaining a permit to move goods will be quicker with this facility without the need for a physical visit to agencies. He added that the service and logistics sectors cannot move unless there is an enabling environment. Aftab said the PSW would strengthen Pakistan’s integration and cooperation with neighbours. “This will enable the country to fulfil its commitment under the World Trade Organisation (WTO) trade facilitation agreement,” he added. The PSW CEO said the facility will help boost the local IT industry and help small and medium enterprises realise their e-commerce potential. He said the issue of exporting perishable goods will also be overcome with this facility of quick processing.

Yasmin Hyder, President of Pakistan Women Entrepreneur Network for Trade, told WealthPK that women represent nearly half of Pakistan’s population, and more women are pursuing careers and starting businesses which will impact the growth of the economy positively. She said the PSW offers an encouraging environment for inclusion and ease of doing business for those women who are facing hurdles in starting their business. She said the PSW, due to its online nature, will help women become more involved in the trade of goods and services.

Credit : Independent News Pakistan-WealthPk