The ISLAMABAD, Pakistan: Pakistan Single Window (PSW) added a new function within the system that will allow the registration of companies with only directors who are foreign nationals. This feature, known as the Pakistan Single Window is one of the biggest initiatives of the Government. of Pakistan to speed up and expense of doing business in Pakistan by digitizing its cross-border trade and removing manual processes that are based on paper. Additionally, this facility/initiative is designed to create an electronic platform integrated that allows all parties that are involved in international trade as well as transportation to submit standardized documents and information with one entry point that can fulfill all export, import, and transit requirements.
Pakistan Single Window (PSW)
with various stakeholders such as Pakistan Customs, and Other Government Authorities (OGAs) that are involved in the regulation of foreign trade and transportation, as well as connecting port authorities commercial traders, banks freight forwarders, transporters, and others. on a digital platform. Pakistan Single Window (PSW) is a brand new and innovative trade solution that provides those involved in transport and trade to file standardized data and documents using a single entry point to meet all export, import, and transit regulations.
Registration and Creation of Profiles in P.S.W
Pakistan Single Window (PSW) is among the most significant cross-border trade facilitation initiatives that have been embraced by Pakistan’s Government of Pakistan in recent times. PSW is a fully digital platform that allows those who are involved in transportation and trade to submit standardized information and documents that have a single entry point that can satisfy all export, import, and transit-related requirements.
What is Pakistan Single Window?
This new function is accessible to foreign-owned and local-owned companies which don’t have a Pakistani national director or authorized representative who is registered with the Federal Board of Revenue (FBR) or the Securities and Exchange Commission of Pakistan (SECP) to join the PSW system and perform trans-border transactions. In Islamabad,
PSW unveils new feature
The Pakistan Single Window (PSW) in partnership together with the State Bank of Pakistan (SBP) launched on Tuesday the online registration of banking profiles’ through the Pakistan Single Window. Personnel support employees (PSWs) assist the spot in a range of environments for long-term care and the community.
Implications for PSW Regulation
The PSW will be a fully integrated platform on the internet that permits those involved in trade and transportation to submit standardized documents and information with one entry point that can fulfill all export, import, and transit regulations. It will also allow for the integration of various regulatory requirements.
Establishing a PSW education standard
PSW system will connect various parties, such as Customs and Other Government Authorities (OGAs) that are involved in the regulation of cross-border trade and transportation, as well as connecting port authorities commercial traders, banks freight forwarders, transporters, and others. on a digital platform.
Developing a PSW Registry
The current process of EIF and EFE on WEBOC will be replaced with real-time exchange of information through the Electronic Data Interchange (EDI) mechanism between Customs and Banks via the PSW platform.
PSW – BankIslami Pakistan Limited
This new feature will also allow those Pakistani citizens who are the directors of these companies to verify their biometrics to be eligible for PSW subscriptions if they are registered on the database of FBR/SECP.
PSW (Pakistan Single Window)
If neither the director nor the authorized representative is not a Pakistani citizen, the subscription will be processed by the electronic verification of bank details. The new system offers greater transparency and accountability for SBP, Pakistan Customs SBP, Pakistan Customs, and the other relevant stakeholders.
A Brief Background on Forms of Regulation
The issue of whether or not PSWs need to be regulated similarly to other health professions that self-regulate is a frequent issue within the policy world, particularly due to the sensitive nature of their work as well as the possibility of abuse for employees and clients.