ANL 32.75 Increased By ▲ 1.28 (4.07%)
ASC 14.38 Increased By ▲ 0.28 (1.99%)
ASL 25.50 Increased By ▲ 1.70 (7.14%)
AVN 95.70 Increased By ▲ 0.95 (1%)
BOP 9.15 Increased By ▲ 0.01 (0.11%)
BYCO 9.98 Increased By ▲ 0.20 (2.04%)
DGKC 135.30 Increased By ▲ 0.50 (0.37%)
EPCL 51.25 Decreased By ▼ -1.00 (-1.91%)
FCCL 24.69 Decreased By ▼ -0.21 (-0.84%)
FFBL 24.50 Decreased By ▼ -0.30 (-1.21%)
FFL 15.42 Increased By ▲ 0.22 (1.45%)
HASCOL 10.72 Decreased By ▼ -0.03 (-0.28%)
HUBC 86.74 Increased By ▲ 1.94 (2.29%)
HUMNL 7.10 Increased By ▲ 0.10 (1.43%)
JSCL 26.59 Increased By ▲ 1.65 (6.62%)
KAPCO 39.20 Increased By ▲ 1.80 (4.81%)
KEL 4.11 Increased By ▲ 0.03 (0.74%)
LOTCHEM 14.72 Increased By ▲ 0.27 (1.87%)
MLCF 46.84 Decreased By ▼ -0.11 (-0.23%)
PAEL 37.10 Decreased By ▼ -0.09 (-0.24%)
PIBTL 11.83 Increased By ▲ 0.15 (1.28%)
POWER 10.50 Increased By ▲ 0.28 (2.74%)
PPL 91.50 Increased By ▲ 0.85 (0.94%)
PRL 25.82 Increased By ▲ 0.52 (2.06%)
PTC 8.90 Increased By ▲ 0.15 (1.71%)
SILK 1.40 Decreased By ▼ -0.01 (-0.71%)
SNGP 41.07 Increased By ▲ 2.57 (6.68%)
TRG 147.70 Increased By ▲ 6.10 (4.31%)
UNITY 30.48 Increased By ▲ 0.73 (2.45%)
WTL 1.54 No Change ▼ 0.00 (0%)
BR100 4,985 Increased By ▲ 72.55 (1.48%)
BR30 25,833 Increased By ▲ 500.7 (1.98%)
KSE100 45,964 Increased By ▲ 370.84 (0.81%)
KSE30 19,236 Increased By ▲ 179.9 (0.94%)

ISLAMABAD: In a major achievement towards ensuring ease of doing business, Pakistan has improved 31 positions (from 142nd to 111th) on the rank of Trading across Border Index, said a press release.

The Federal Board of Revenue (FBR) made trading across borders easier by focusing three crucial areas: enhancing the integration of various agencies in the Web-Based One Customs (WEBOC) electronic system; reducing the number of documents required for import/export clearances; enhancing capacities of Pakistan Customs officials for playing a pro-active role in smoothly regulating border trade.

Climbing up the ladder in Trading Across Border Index has enabled Pakistan in jumping up 28 places - from 136th to 108th - in World Bank (WB)'s "Ease of Doing Business 2020" and securing a place among the top 10 countries have done the most in the corresponding/past year to improve the ease of doing business in their countries.

This milestone has led Pakistan to be the sixth global reformer and first in South Asia that has brought ease in doing business for the national/international trade.

Border facilitation is among the top priority areas as per the comprehensive policy laid down by the government.

Concerted efforts by Pakistan Customs, under the FBR, led to impressive performance in terms of compliance to the provisions of the World Trade Organization (WTO)'s Trade Facilitation Agreement; hence, complementing Pakistan's rise in Trading Across Border Index.

The Pakistan Customs has pursued implementation of effective customs controls, so that compliant trade is thoroughly facilitated, while lesser/non-compliant trade is diverted to detailed scrutiny. This strategy worked well, as conceived by Pakistan Customs, and has gone a long way in reducing the dwell time (at the borders/ports) for imports/exports in Pakistan by increasing the percentage of clearances through Green Channel.

For instance, the time required for documentary compliance to effect exports has been reduced from 55 hours to 24 hours, and the time required for overall border compliance to effect exports has also been reduced from 75 hours to 24 hours.-PR

Copyright Business Recorder, 2021