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Business

December 8, 2017

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Pakistan, China to launch online trade verification from April

Pakistan, China to launch online trade verification from April

KARACHI: Pakistan and China will launch online trade verification from April 2018 to authenticate the volume of import and exports of both the countries, a top official of Pakistan Customs said on Thursday.
“China has agreed to provide online certificate of origin to all its exports for Pakistan,” said Wajid Ali, director, Automation and Reforms, Pakistan Customs at a meeting with members of Federation of Pakistan Chambers of Commerce and Industry (FPCCI).
The working for data verification between the two countries was started couple of years back in order to streamline the trade between the two countries. In this regard, both the countries under free trade agreement (FTA) have agreed to develop electronic data interchange.
The certificate of origin is part of the EDE. The director said Pakistan Customs had ready to roll out electronic payment solution from December 31, 2017. The e-payment system has been developed with the help of State Bank of Pakistan (SBP) and 1Link – payment solution provider.
The official said under the e-payment system importers would be able to make payments related to goods declarations (GDs) online and through ATMs. He said usually banks have restricted amount transaction limit through ATM. “However, there will be no limit of payment through ATMs for consignment clearance,” he added.
Wajid Ali said the government was also working on various modules to comply with trade facilitation agreement (TFA) under World Trade Organization (WTO). “In this regard the prime minister has approved single window operation for trade clearance,” he said, and added that a team had been constituted at the Federal Board of Revenue (FBR), which would complete the task in three years.
He said the single window programme would facilitate the trade as importer would have to file a single page document and all the relevant departments would submit their certificates / verifications of their own under this programme.
The director said presently the WeBOC system – online clearance system developed by Pakistan Customs – allowed 50 percent import consignments for clearance through green channel.
“This will be increased to bring it at international standard of 90 percent,” he added. Zubair Tufail, president, FPCCI, said that during the past ten years the customs clearance system witnessed massive changes.
“The automated system is facilitating the trade and it reduced the time for clearance,” he added. Qamal Alam, chairman, FPCCI Committee on Customs Agents and Arshad Jamal, chairman, Federation of Pakistan Chambers of Commerce and Industry Committee on Customs suggested numerous measures, which would further reduce the time for consignment clearance.

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