Pakistan Single Window to save $500m, says PM

ISLAMABAD: Prime Minister (PM) Imran Khan has said the implementation of Pakistan Single Window (PSW) will bring $500 million annual savings and reduce cargo clearance time from days to hours by integrating over 75 regulatory departments.

In a tweet, the premier added that an in-department authority would manage the PSW which will be pivotal in unlocking Pakistan’s potential to become a hub for international transit and trade.

Another landmark reform by PTI govt - the Pakistan Single Window (PSW) Act 2021. It paves the way for ease in imports & exports. PSW will bring $500 mn annual savings & reduce cargo clearance time from days to hrs by integrating 75 regulatory depts:

— Imran Khan (@ImranKhanPTI) April 12, 2021

The PSW Company was inaugurated  the Federal Board of Revenue (FBR) in Islamabad as part of compliance with the Trade Facilitation Agree­ment (TFA) of the World Trade Organisation (WTO) earlier last week.

The company has been operationalised to maintain complete ownership of entire cross-border trade, related logistics and financial transactions.