Says PSW 1st phase to be completed by March 2022
ISLAMABAD: Advisor to Prime Minister on Finance and Revenue Shaukat Tarin on Tuesday said that Federal Board of Revenue (FBR) and NADRA are working on broadening the tax base through the use of modern technology. Finance Advisor, while addressing launch ceremony of the Federal Bureau of Investigation s Track and Trace System, said that around fifteen million people have been identified, who can be brought to the tax net.
He added that the FBR’s Trace and Track System will ensure electronic monitoring of the production and sale of important sectors including tobacco, fertilizer, sugar and cement sectors. This will help bring transparency in the system and enhance the country’s revenue. Under the system, no production bag of sugar will be taken out from the factory and manufacturing plant without stamp and individual identity mark.
He expressed satisfaction on the overall progress made to implement Pakistan Single Window (PSW), the first phase of which is under roll out and would be completed in March, 2022. The advisor was presiding over the second meeting of the Governing Council (GC) of Pakistan Single Window (PSW), according to press statement issued here by the finance ministry.
The adviser lauded the efforts of Pakistan Customs in Federal Board of Revenue (FBR) as the lead agency of PSW program. While assuring full support to the deep-rooted reforms being undertaken under PSW program, Tarin urged stronger collaboration with both public and private sector in order to create ownership and awareness. He directed PSW to focus on its outreach activities and allow private sector to judge performance of its system.
He said, successful implementation of PSW was a major objective of current government in order to promote trade competitiveness through enhanced transparency and efficiency. On the occasion, Secretary Governing Council gave detailed presentation on the progress, achievements, goals, milestones and challenges under PSW program.
He apprised that Pakistan Customs after detailed working, with support from local and international experts, had designed and implemented PSW’s operational, governance, revenue and functional models to ensure efficacy and sustainability. The GC was updated on implementation status of decisions taken in the last meeting, the statement added.
The secretary informed that an overarching legal framework was in place to support all initiatives under PSW. Despite delays in funding from donors and COVID induced problems, solid progress has been achieved on PSW implementation. The CEO, PSW informed that the first phase of PSW was under roll out and would be completed in March, 2022. It would enable Pakistan to notify its commitments under Trade Facilitation Agreement of WTO.
Governor State Bank of Pakistan and other participating Ministries/departments provided update to the GC on their preparedness and co-operation in roll out of PSW system. On the occasion, all the involved ministries and stakeholders agreed on extending their cooperation and full support to make this program successful. Among others, the meeting was attended by the Federal Minister for Science and Technology, Shibli Faraz; secretary Commerce, Science and Technology, Governor SBP, Secretary to the Governing Council/Member Customs, FBR and senior officers from other ministries.