Hafeez Shaikh reviews implementation of trade related NSW

ISLAMABAD, Apr 30 (APP):Adviser to Prime Minister on Finance, Revenue and Economic Affairs, Dr. Abdul Hafeez Shaikh Tuesday chaired the second meeting of Steering Committee on National Single Window (NSW) to review the implementation of the the trade related system in Pakistan.
Member Custom (Operations) gave a presentation to the Committee highlighting the concepts and benefits of NSW system.
He informed that the implementation of the system would help promote cross border trade as well as improving the ease of doing business in the country.
He apprised that the establishment of the National Single Window system was a basic requirement, under WTO Trade Facilitation Agreement, as Pakistan is signatory to the said Agreement.
He said that Federal Board of Revenue (FBR) was actively working on early implementation of NSW system which would play instrumental role in promoting cross border trade.
The Adviser directed FBR to simplify the existing laws and regulations to help promoting trade with neighbouring countries.
He asked FBR to carry out further consultation on the business plan for the establishment of NSW, with a view to have a broad based consensus, before its formal approval.
It may be recalled that the Prime Minister 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.