FBR Orders to Implement Pakistan Single Window Project
The Federal Board of Revenue (FBR) has issued notifications to begin implementing the Pakistan Single Window project on July 1, 2021, in order to facilitate the country’s trade activity.
The PSW will provide savings of $500 million annually. In addition, an independent authority would operate the PSW, which will be important in realising Pakistan’s potential as a hub for international transit and trade.
The FBR has issued SROs barely five days prior to the implementation of this multinational Pakistan Single Window initiative on July 1, 2021.
Lead Agency (customs) has designated Pakistan Single Window, constituted under the Companies Act of 2017 as the operating entity via a separate notification.
The operating entity shall perform such functions and be entrusted with such responsibilities as are assigned to it under the Act, rules and regulations issued thereunder, and/or in the memoranda of understanding signed by the operating entity with the Governing Council and with the Lead Agency, or as specified in its own memorandum of association under the Companies Act, 2017.
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