ISLAMABAD: Adviser to Prime Minister Finance, Revenue and Economic Affairs, Dr. Abdul Hafeez Shaikh directed the Federal Board of Revenue(FBR) to simplify the existing laws and regulations to help promoting trade with neighbourhood countries.
He issued the directives on 2nd meeting of Steering Committee on National Single Window (NSW) to review the implementation of the trade related (NSW) in Pakistan, on Tuesday.
On the occasion, Member Custom (Operations) gave a presentation to the Committee on concepts and benefits of NSW system. He informed that the implementation of ( NSW) would help promote cross border trade as well as improving the ease of doing business in the country.
Member Custom (Operations) apprised that the establishment of (NSW) system was a basic requirement, under WTO Trade Facilitation Agreement, as Pakistan is signatory to the said Agreement. He said that FBR was actively working on early implementation of (NSW) system which would play instrumental role in promoting cross border trade.
Dr. Abdul Hafeez Shaikh 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.
