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.