PSW Act 2021 paves the way for ease in imports, exports: PM Imran Khan
- By Web Desk -
- Apr 12, 2021
ISLAMABAD: Prime Minister Imran Khan has said that Pakistan Single Window (PSW) Act 2021 paves the way for ease in imports and exports, ARY News reported on Monday.
PM Imran Khan said the landmark reform by the Pakistan Tehreek-e-Insaf (PTI) government, the Pakistan Single Window (PSW) Act 2021 paves the way for ease in imports and exports.
He said in a Twitter message that PSW will bring $500 million annual savings besides reducing cargo clearance time from days to hours by integrating 75 regulatory departments including customs, banks, port authorities, shipping companies and brokers.
Read: One-window facility to ease investment procedure: President Alvi
The premier said that an independent authority will manage the PSW which will be pivotal in unlocking Pakistan’s potential to become a hub for international transit and trade.
Another landmark reform by PTI govt – the Pakistan Single Window (PSW) Act 2021. It paves the way for ease in imports & exports. PSW will bring $500 mn annual savings & reduce cargo clearance time from days to hrs by integrating 75 regulatory depts:
— Imran Khan (@ImranKhanPTI) April 12, 2021
Earlier in the day, PM Khan took to Twitter to share data of remittances Pakistanis working outside their country sent back home in March 2021.
“The love & commitment of Overseas Pakistanis to Pakistan is unparalleled,” Prime Minister Khan wrote on his official Twitter handle. “You sent over $2bn for 10 straight m[on]ths despite Covid, breaking all records.”
Read: President Alvi signs act to facilitate trade
The prime minister said workers’ remittances rose to $2.7 billion in March, 43 per cent higher than last year’s corresponding period. So far this fiscal year, remittances rose 26 per cent, he added and expressed gratitude to the expats over the rise.
Pakistan received $2.26 billion worth of remittances in Feb, around the same level as the previous month. However, remittances saw a 24.2 per cent increase as compared to last year’s corresponding month.