Prime Minister Imran Khan has said that the Pakistan Single Window (PSW) Act, 2021 will bring $500 million in annual savings and reduce the cargo clearance time from days to hours.
In a tweet on Monday, the Prime Minister said that the Pakistan Single Window (PSW) Act, 2021 would pave the way for ease in imports and exports. He added that cargo clearance time would be saved as the act has integrated 75 regulatory departments, including customs, banks, port authorities, shipping companies and brokers.
The Prime Minister said that an independent authority will manage the Pakistan Single Window, which will be pivotal in unlocking Pakistan’s potential to become a hub for international transit and trade.
In February, it was reported that Pakistan has introduced a system for pre-arrival clearance of imported cargo coming through the air route to slash clearance time, facilitate trade and improve supply chain management with the objective of steering ease of doing business in the country.
Initially, the customs department receives details of goods on board through electronic means immediately after the flight takes off from an international destination and the cargo receives clearance for delivery to importers by the time the flight lands in Pakistan. The new project launched by the Customs department is called “Clearance in Sky”.
The system delivers a message to the importers or recipients of the cargo that can be shown to the authorities for receiving the delivery of cargo and it can also be used to track the status of goods. The system can tell the exact position of goods and the period of time after which they will be ready for physical delivery at airports.
Meanwhile, Prime Minister Imran Khan has said the remittances have so far witnessed an increase of twenty-six percent during this financial year.
In a tweet on Monday, the Prime Minister thanked the overseas Pakistanis for sending record remittances, saying their love and commitment for Pakistan is unparalleled. He said the overseas Pakistanis sent over two billion dollars for tenth straight months despite Covid-19, breaking all records.
Meanwhile in a tweet, Finance Minister Hammad Azhar said the workers remittances have recorded an increase of forty-three percent in March compared to the same time last year.
“The love & commitment of Overseas Pakistanis to Pakistan is unparalleled. You sent over $2bn for 10 straight months despite Covid-19, breaking all records. Your remittances rose to $2.7bn in Mar, 43% higher than last year. So far this fiscal year, your remittances rose 26%. We thank you.”
