Eliminate requirement of Form ‘E’ & Form ‘I’ for exports and imports respectively |
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Reform ID | F110 | |
Ticker | Requirement of Form “E” & “I” eliminated for import and export consignments | |
Reform Description | Before: Importers and Exporters had to obtain Form “E” &”I” for imports and exports from commercial banks for each consignment.
After: After the integration of the commercial banks with Pakistan Single Window (PSW) the requirement of form “E” & “I” has been eliminated altogether. |
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Sector | All sectors | |
Beneficiaries | All trade businesses | |
Jurisdiction/ Location | Federal (Entire Pakistan) | |
Department | State Bank of Pakistan and Federal Board of Revenue (Customs) | |
Date of Implementation | 24-12-2021 | |
Details | Difficulty | In absence of digital integration between commercial banks and Pakistan Single Window (PSW) the traders have to obtain a form “E” & “I” for exports and imports of the goods which caused hassle and delay in the trade of the goods. |
Analysis | It was felt that the requirement for the import and exports of goods form “E” & ‘I” can be eliminated by linking commercial banks with Pakistan Single Window (PSW) a dedicated trade system of Pakistan Customs which provides a facility to parties involved in trade and transport to lodge standardized information and documents with a single entry point to fulfill all import, export, and transit-related regulatory requirements. | |
Solution | Accordingly, the commercial banks has been linked with PSW and the requirement of E&I forms has been eliminated. | |
Evidence | https://business.gov.pk/eliminate-requirement-of-form-e-form-i-for-exports-and-imports-respectively/ |
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