Acknowledging the importance of digitalization at trade points, the Customs Department is adopting the electronic systems that are expected to effectively address the cross-border trade challenges, Sania Rasool, Deputy Collector at the Pakistan Customs, told WealthPK. She said the Customs Department was continuously working on the ‘digitalization program’ that included establishing a structured digital data governance system, standardizing data exchange procedures, enhancing data protection regulations, and promoting evidence-based decision-making to benefit all the stakeholders involved in the trade. The Customs Department is working closely with relevant departments and ministries like the Pakistan Standards and Quality Control Authority (PSQCA), the Ministry of Maritime Affairs, and the Trade and Development Authority of Pakistan (TDAP) for better collaboration among them, which eventually helps enhance trade.

In this regard, the deputy collector mentioned a few ongoing steps of the Customs Department. Presently, the Integrated Transit Trade Management System (ITTMS) is being executed at three Border Crossing Points (BCPs) – Torkham, Chaman, and Wahga. This initiative is part of the CAREC-RIBS Program, financially supported by the Asian Development Bank, with the Customs Wing of the Federal Board of Revenue (FBR) serving as the lead executing agency. Underscoring the necessity of single window operations, she pointed toward the establishment of Pakistan Single Window (PSW) which was designed to offer seamless trade opportunities for all the relevant stakeholders. “The PSW presents a comprehensive and resilient digital ecosystem that integrates the blockchain technology. This model aims to fortify a digital data culture by capturing digital data patterns. Its goal is to facilitate seamless flow of legal trade through improved transparency and data-driven solutions”.

Moreover, she added that the PSW was employing efficient digital data analysis of cross-border trade transactions to establish controls against issues like the Trade-Based Money Laundering (TBML) and smuggling of goods. Sania Rasool highlighted the significance of exchange of trade-related data with both the trading partners and private stakeholders. “The digitization process will not just facilitate the sharing of data with our trading partners but also furnish valuable information with the potential private investors contemplating entry into the cross-border trade”. Concluding, she said the measures already implemented and those currently underway by the Customs Department in the digitalization process were crucial for fostering a seamless trade with other nations.

Credit: Independent News Pakistan (INP)