Pakistan has established a digital platform called the National Single Window (NSW) for traders. This new platform has been launched to help the traders in the filing of the import and export documents. Usually the import, export documents are filled in 42 different places but now they can be filed at just one place.
Federal Board of Revenue’s (FBR) NSW Programme Director Imran Mohmand said, “The new system will cut annual import and export cost by $800 million if we manage to improve the cross-border trading system by 3%.”
He said, “The benefit of cost reduction will go to the private sector; the system is targeted to be made operational by February 2022.”
Mohmand said that the ranking of Pakistan in the trading sector across borders has improved by 29 places and reached 142nd spot among 192 economies. This system has helped South Korea in saving $3 billion per year. Similarly it has helped Singapore in saving $1 billion per year and its ranking in trading across borders hasreached 2nd.
Now in Pakistan traders will be able to file trade documents at one place instead of 42. The 42 agencies include banks, insurance, port, customs etc.
NSW Programme Director said, “We will digitalise all the 42 agencies one by one to make the National Single Window project operational.”
Furthermore adding, “Pakistan’s current government is very much supportive of establishing the system but a great political will is still required to make the NSW operational.”