KARACHI: Pakistan Single Window (PSW) has implemented integration of commercial banks and the requirement of filing EIF/EFE with each Goods Declaration has been dispensed with as per amendments made in the Foreign Exchange Manual issued by the State Bank of Pakistan.
All banks are being transitioned to new regime gradually through a phased approach. In this regard, the integration of Al Baraka Bank with PSW is scheduled to be implemented on 23rd February, 2022. The following changes will be brought about as a result of integration of Al Baraka Bank with PSW:
I. Real time electronic data interchange will be implemented between PSW and Al Baraka Bank for sharing of financial instrument data and other ancillary information.
II. All approved Electronic Import Forms (EIFs) and Electronic Forms for Export (EFEs) of Al Baraka Bank will not be available for consumption and for filing of Goods Declaration in WeBOC after cutover of Al Baraka Bank from WeBOC to PSW.
III. Al Baraka Bank will issue fresh Financial Instruments for unutilized as well as partially consumed EIFs and EFEs to respective traders for consumption of same against Goods Declarations.
IV. EIFs and EFEs which are consumed in Goods Declarations before Cutover Date will be settled in WeBOC by Al Baraka Bank.
V. All traders conducting foreign remittances through Al Baraka Bank will require PSW.
Moreover, PSW has been working closely with the Department of Plant Protection (DPP) to develop ICT based solutions for automation of DPP’s processes for issuance of licenses, permits, certificates and other documents (LPCO) required in cross-border trade transactions; i.e, imports and exports.
Keeping in view its significant role in cross-border trade, DPP is going to be the first OGA to go live from the platform of PSW. In this regard, PSW has successfully implemented electronic issuance of Import Permit (IP) by DPP through its system. Under the new system, traders will be able to apply for IP electronically and DPP will also process all such requests and issue or reject IP electronically using the PSW system.
Following are the salient features/dividends of new system:
i. All relevant import conditions will be fed by DPP and will be automatically printed on the IP depending upon the imported commodity.
ii. The system has been developed in line with the prevalent Plant Quarantine Rules, 2019.
iii. As of now traders will be able to attach PDF copy of the IP issued through the PSW system with their import GDs. After roll out of Single Declaration (SD) for imports by PSW, the trader will be able to attach IP electronically and the system will perform auto debiting of quantities and maintain balance.
iv. The enhancements will be made with the passage of time as per input of DPP.
v. The print view of the IP will bear QR code enabling online verification of the printed certificate
Foregoing in view, it is requested that the aforementioned information may be disseminated among all your respected members. PSW team will also be available for further support, assistance and troubleshooting.