News & Updates

Production at 30% units halted

In a poor economic situation, where the country is facing a shortage of dollars, import restrictions, difficulties in opening Letters of Credit (LCs) and scarcity of raw material, the industrial wheel has become virtually paralyzed. Traders and industrialists are becoming increasingly worried as containers have been stuck at port for weeks, which has stymied the supply of key inputs to many industrial concerns. Production of goods at an estimated 30% of factories has come to a halt. Businessmen fear that if the government does not bring the situation under control quickly, trade and industrial activities will grind to a complete halt within the next 45 to 60 days.

Jan-24-2023

SBP issues quota-based sugar export mechanism

The State Bank of Pakistan (SBP), following instructions from the government, has issued a mechanism for the export of sugar and advised banks to process export cases in accordance with the allotted quota. In a circular released late on Friday, the SBP directed banks to process the cases regarding the allocation of sugar export quotas for the provinces of Punjab and Khyber Pakhtunkhwa. As per the mechanism, mills must provide a sugar export contract and clearance certificate issued by the concerned cane commissioner to the effect that the concerned sugar mill has cleared outstanding dues of the farmers for sugarcane crop up to 2021-22.

Jan-22-2023

FBR assessment reveals 90% of dollars in Pakistan being hoarded

About 90% of the dollars are being hoarded in Pakistan while currency smuggling has just a 10% share, revealed a member of the Federal Board of Revenue (FBR) while talking about the assessment carried out by the board. Mukarram Jah Ansari — who is an FBR member — said that the customs department has increased vigilance at the entry and exit points of the country including airports to prevent currency smuggling. However, as per the assessment, there is only 10% smuggling, while 90% is hoarding of dollars in the country.

Jan-09-2023

90pc greenback being hoarded in country: FBR member

Member Federal Board of Revenue (FBR) Mukarram Jah Ansari says the government is making efforts for signing the Electronic Data Integration (EDI) agreements with different Central Asian Republics (CARs), Russia and the United Arab Emirates (UAE) in order to curtail mis-invoicing and under-invoicing. He dwelt upon various issues for bringing reforms into customs for improving the overall performance of the tax collection agency.

Jan-09-2023

FBR notifies PSW Evidence of Identity Rules, 2022

FBR has directed all persons engaged in cross-border trade transactions to provide evidence of identity by undergoing an electronic verification process through the Pakistan Single Window (PSW) system. All persons wishing to conduct a cross-border trade transaction whether imports, exports, or transit (applicant) must provide evidence of identity by undergoing an electronic verification process by subscription to the PSW system to prove their credentials.

Dec-31-2022

Cross-border trade rules

The Customs Department has notified rules for evidence of identity for the electronic verification process for all kinds of cross-border trade transactions. According to the rules all persons wishing to conduct a cross-border trade transaction whether imports, exports, or transit must provide evidence of identity by undergoing an electronic verification process by subscription to the PSW system to prove their credentials. The subscription to the PSW system will be done through an online process.

Dec-30-2022

Persons Engaged in Cross-Border Trade Transactions to Undergo Electronic Verification Process

The Federal Board of Revenue (FBR) has directed all persons engaged in cross-border trade transactions to provide evidence of identity by undergoing an electronic verification process through the Pakistan Single Window (PSW) system. In this regard, the FBR Friday issued an SRO.2296(i)/022 to notify Pakistan Single Window Evidence of Identity (E01) Rules, 2022. The new procedure shall supersede all previous instructions and orders pertaining to PSW subscription as notified by the lead Agency (FBR) or any other entity.

Dec-30-2022

PSW has lined up Khadijah – The Women Entrepreneurship Program – Capital TV

PSW has leveraged its existing networks and technical and financial resources to unlock the potential of export for women-led businesses. As a part of this agenda, Pakistan Single Window has conducted Khadijah – The Women Entrepreneurship program to mentor business-women & entrepreneurs to expand their businesses globally.

Dec-19-2022

PSW has conducted Khadijah – The Women Entrepreneurship program to mentor business women – GN News.

PSW is facilitating women entrepreneurs and traders to network, gain mentors and receive advice on their ideas, products, and trade to make their way into global markets. In this regard, Pakistan Single Window (PSW) has launched “Khadijah – The Women Entrepreneurship Program” in Karachi.