Finance Minister Shaukat Tarin said Pakistan’s introduction of a Single Window (PSW) operations opens up the country’s potential to become a hub for regional and international trade and transit.
The statement came as Tarin Presides over first session of PSW’s meeting.
The secretary briefed PSW Board, a portal that links relevant ministries, customs, port authorities, banks and other relevant departments after core functions were redesigned to provide a one-stop shop for managing international trade.
PSW is an arrangement that allows parties involved in trade and transport in Pakistan to provide consolidated information and documents at a single point of registration. It removes hidden costs and disadvantages in international trade management, including logistics, the statement added.
The first phase of the PSW program has already started, and the second and third phases will be completed over the next two years.
More than 75 organizational units will be fully integrated through the ICT-based system and provide a single interface to facilitate cross-border trade without physical connection.
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