Federal Minister for Finance and Revenue Shaukat Tarin presided over the 3rd meeting of the PSW Governing Council (GC) at Finance Division, today to review the progress of PSW implementation.
Speaking on the occasion, Finance Minister Shaukat Tarin expressed the government’s complete support and commitment to the PSW initiative aimed at facilitating trade and improving regulatory compliances. He also lauded the efforts of PSW Company and officials of Pakistan Customs.
Syed Muhammad Tariq Huda, Secretary to the GC briefed the participants on the implementation status of previous decisions of the GC. The CEO of PSW gave a presentation on the progress already made and highlighted key challenges. The GC was informed that the PSW program is on course to complete its 1st phase before the deadline. of June 2022.
The GC approved regulations for smooth operations of Trade Information Portal which is being launched by PSW Company this month to fulfill Pakistan’s commitment under WTO’s Agreement on Trade Facilitation. While giving approval on other key matters the GC also gave directions to the relevant Ministry for ensuring immediate utilization of integration with the PSW system.
Implementation of PSW is helping Pakistan to indigenously establish a single electronic platform to virtually regulate imports, exports, and transit trade. This platform is also enabling Pakistan to become more competitive by integrating with fast-evolving platforms at the national regional and global levels.
