ISLAMABAD: Advisor to Prime Minister on Finance Shaukat Tarin will launch Pakistan Single Window’s (PSW) subscription and banking modules here on Monday (November 1).

The event marks the milestone achievements of PSW by introducing subscription mechanism and integration of banks into its system. The event will host multiple stakeholders of PSW including representatives from government departments, development partners, business community and members of public and private sector entities connected to international trade.

The introduction of these two new modules will significantly help in ease of doing business in Pakistan. The subscription module lets users subscribe and access PSW’s services in a matter of minutes and removes multiple obstacles and unnecessary regulatory requirements in getting a user ID for customs and other regulatory clearances.

The integration of banking module will allow users to conduct their financial transactions in a seamless manner by eliminating SBP-mandated Electronic Import Forms (EIF) and Electronic Form for Exports (EFE) forms.

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The PSW is an initiative of federal government with a focus of transforming the trade and industry ecosystem. The programme encompasses several aligned smaller initiatives to support PSW’s cause of transforming trade.

PSW encompasses multiple endeavors related to business processes re-engineering, integrated risk management, ports community systems, introduction of new technology for trade management, data standardization and harmonization and integrated tariff management system.

The PSW implementation is in line with Government of Pakistan’s commitment under the WTO’s Trade Facilitation Agreement and it is expected to be finally inaugurated by the Prime Minister in March 2022.

Copyright Business Recorder, 2021