ISLAMABAD: Advisor to Prime Minister on Finance, Revenue and Economic Affairs, Dr Abdul Hafeez Shaikh has directed the Federal Board of Revenue (FBR) to simplify the existing laws and regulations to help promoting trade with neighbouring countries.
He issued the directives while chairing the 2nd meeting of Steering Committee on National Single Window (NSW) to review the implementation of the trade related NSW in Pakistan, here on Tuesday.
According to details, member customs (operations) gave a presentation to the committee highlighting the concepts and benefits of NSW system. He said that the implementation of NSW would help promote cross border trade as well as improving the ease of doing business in the country.
He apprised that the establishment of NSW system was a basic requirement under WTO Trade Facilitation Agreement, as Pakistan was a signatory to the said agreement. He further said that FBR was actively working on early implementation of the system which would play instrumental role in promoting cross border trade.
It may be recalled that the Prime Minister Imran Khan has designated Pakistan Customs as a Lead Agency since October 2017 to implement NSW. Pakistan is required, under WTO Trade Facilitation Agreement, to establish NSW by 2022.
