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Business
February 12, 2021
ISLAMABAD: The government is all set to launch a new system to process payments within and from Pakistan through integration with any international payment provider, officials said on Thursday.
The officials of the National Institutional Facilitation Technologies (NIFT) said the payment system will be facilitated by the involvement of third party. The payment facility was to become functional by the end of 2020. However, the multi-party engagement with the effect of COVID has affected the plan.
“However, we are working on it and will update as soon as they are ready to take it to SBP. Assistance from SBP will come in once they put in the complete details for their review. The pilot run is now expected in second quarter of 2021,” the NIFT official told the 4th meeting of National e-Commerce Council (NeCC).
Pakistan climbs on Trading Across Border Index
FBR’s reforms help country jump from 142nd to 111th place
PHOTO: AFP/FILE
ISLAMABAD:
Pakistan has managed to improve its place by 31 spots on the Trading Across Border Index as the ranking jumped from 142nd to 111th, a major achievement towards ensuring ease of doing business.
The Federal Board of Revenue (FBR) made trading across borders easier by focusing on three crucial areas - enhancing the integration of various agencies with the Web-Based One Customs (WeBOC) electronic system; reducing the number of documents required for import/ export clearances; and enhancing capacity of Pakistan Customs officials for playing a proactive role in smoothly regulating border trade.
Business
January 20, 2021
ISLAMABAD: The Federal Board of Revenue (FBR) is trying to further improve its services on border crossings to increase trade with India and Afghanistan, it said on Tuesday.
âIn order to further improve Pakistanâs position in trading across border criterion, the Federal Board of Revenue is pursuing simultaneous completion of regional improvement of border services and Pakistan Single Window,â the FBR said in a statement.
âRegional improvement of border services is being implemented at Torkham, Chaman, and Wagah and is the flagship program that aims at improving border-crossing facilities which are key transit points to Afghanistan and India. Pakistan Single Window, on the other hand, would integrate online at least 46 departments / agencies in Pakistan and would make trading across border a hassle free and seamless operation.â
The announcement of the FBR did not mention the year in which the index was calculated. APP/File
ISLAMABAD: Pakistan’s rank on the trading across border index jumped by 31 positions from 142nd to 111th due to considerably improved implementation of several measures, the Federal Board of Revenue (FBR) said on Tuesday.
The improvement is linked with the ongoing reforms that led to huge improvements in trading across the borders index. The announcement of the FBR did not mention the year in which the index was calculated.
An official announcement said the 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; and enhancing capacities of Pakistan Customs officials for playing pro-active role in smoothly regulating border trade.