Amir Saeed

Singapore ranks first in the Logistics Performance Index (LPI) with a score of 4.30 out of 5 because of its exceptional logistics services, trade and transport-related infrastructure, and highly efficient border controls. Pakistan should follow Singapore’s suit to boost regional trade. Talking to WealthPK, Additional Secretary of Commerce Ahsan Ali Mangi said Singapore had emerged as a global logistics powerhouse, offering valuable lessons for underdeveloped countries seeking to boost their trade. “Pakistan should learn from this island nation by prioritizing investment in modern warehousing and storage facilities to bolster its logistics infrastructure. This would enable efficient storage and management of goods, reducing congestion and increasing the speed of cargo handling,” he said. “Streamlining customs procedures and regulations is a key area for improvement. By reducing trade barriers and increasing the ease of doing business, Pakistan can attract more investment and increase trade volume,” he pointed out.

Pakistan should learn from Singapore’s success by fostering collaborative relationships between the government and private sector entities and encouraging public-private partnerships that attract investment, expertise, and best practices to the logistics sector. Moreover, Singapore’s location and world-class infrastructure have combined to create a hub for international trade and commerce. Fostering a favorable business environment is essential for logistics players to thrive. Pakistan should encourage competition and collaboration among logistics companies to drive growth and innovation. Speaking to WealthPK, Nazir Ali, Assistant Director at the Trade Development Authority of Pakistan (TDAP), said Singapore’s success was not a mere coincidence but rather the outcome of a deliberate and synergistic blend of visionary government policies and active private sector involvement, which collectively drove the nation’s growth and development.

He further said modern warehouses with advanced inventory management systems, temperature-controlled storage, and security features would attract international logistics companies and boost the country’s competitiveness in the global supply chain. In addition, the strategically located warehouses near ports, airports, and border crossings would facilitate seamless cargo movement, reduce transit times, and increase trade volumes. The government should significantly enhance its logistics sector by establishing strong institutions and governance structures, including a single-window operation, to streamline processes and reduce bureaucratic hurdles. This would ensure a secure and reliable environment for logistics operations, fostering trust among investors, traders, and other stakeholders. A single-window operation would allow for efficient and transparent clearance of cargo, reducing paperwork, and increasing the speed of trade. This would also help reduce corruption, increase accountability, and enhance the overall ease of doing business.

Credit: INP-WealthPk