US, Pakistan launch single platform to lower trade costs, decrease delays

Islamabad: The United States and Pakistan successfully launched the first phase of the Pakistan Single Window project, which aims to boost trade by lowering costs, decreasing paperwork delays, and making it easier to import and export commodities with Pakistan.

This will benefit businesses and consumers. The U.S. Government, through the U.S. Agency for International Development (USAID), and Pakistan’s Federal Board of Revenue (FBR) inaugurated the project today with the Adviser to the Prime Minister on Finance and Revenue, Mr. Shaukat Tarin, and officials from the State Bank of Pakistan, the Pakistan Single Window Company, and the Federation of Pakistan Chambers of Commerce and Industry in attendance.

The Pakistan Single Window enables parties involved in trade and transport to register standard information and documents with a single-entry point and thereby fulfill all import, export, and transit-related regulatory requirements. Previously, traders were required to secure approval from a variety of government offices, duplicating efforts and paperwork, which led to increased costs and delays. Today’s announcement rolled out the Subscription and Customs Registration system, along with the Commercial Bank integration module, which are the first steps in helping to reduce these costs and delays, and which will benefit consumers and businesses alike.

“This project will help reduce the time and cost of doing business in Pakistan, and it will unlock the country’s potential to become a hub for regional and international trade and transit,” stated USAID Deputy Mission Director David Young at the inauguration. “By making trade simpler, the Pakistan Single Window will help to unlock Pakistan’s economy.”

Speaking at the event, the Adviser to the Prime Minister on Finance and Revenue, Mr. Shaukat Tarin, said, “The Pakistan Single Window concept and its framework is the embodiment of this government’s vision of deep meaningful reforms impacting all sectors and every aspect of government, promoting trade competitiveness with enhanced transparency and efficiency.”

The Pakistan Single Window project is managed by USAID’s Pakistan Regional Economic Integration Activity (PREIA), a five-year initiative that aims to improve the development of Pakistan’s trade sector. The public-private dialogue forum supports the United States’ objectives to improve Pakistan’s trade environment by building the institutional and human capacity of both public and private stakeholders.