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Business Recorder
6 days ago
- Business
- Business Recorder
Exporters in PSW system: SBP amends ‘undertaking' for payments via ADs
KARACHI: In light of evolving business dynamics and recent system upgrades, the State Bank of Pakistan (SBP) has amended the undertaking/declaration required from exporters in the Pakistan Single Window (PSW) system for receipt of payments through authorized dealers (ADs). As per instructions contained in Para 5(ii) and 15B(ii) of Chapter 12 (Exports) of Foreign Exchange Manual, whereby exporters of goods are required to file Undertaking/Declaration in PSW system for receipt of payments through an AD, as prescribed by the State Bank of Pakistan. The undertaking/declaration for exports were earlier part of the Manual E-Form/Electronic Form-E (EFE). Now, considering the evolving business dynamics and system upgradations, the SBP has decided to amend the Undertaking/Declaration and accordingly the new format has been issued. PSW designated as FBR's technology partner for WeBOC System The SBP has advised ADs to obtain the revised Undertaking/Declaration from the exporters through the PSW system at the time of initiating their respective export transactions. Further, to mitigate any potential legal risks, ADs may obtain the revised Undertaking/Declaration duly signed by Exporters in manual form as well. ADs are also directed to bring these instructions to the notice of all their constituents and ensure meticulous compliance. The SBP has issued the following revised undertaking/declaration: An incorrect declaration constitutes an offence under Pakistan Penal Code 1860, Foreign ExchangeRegulation Act, 1947 (VII of 1947), Customs Act 1969, and Anti Money Laundering Act 2010. I/We, hereby declare that I/We am/are the sellers/consignors/exporters of the goods described herein in respect of which this declaration is made out and that the particulars given in the Financial Instruments are true and that the invoice value declared in the Financial Instruments in case of firm contracts is full value as contracted with the buyers/in case of consignment sale is a fair value of goods which are being shipped on consignment sale. I/We undertake that I/we shall deliver to the AD the foreign exchange proceeds resulting from the export of these goods, on the due date as per contractual maturity or within such time period as maybe prescribed by State Bank of Pakistan, from the date of shipment/dispatch whichever is earlier. In the event of consignment sale, we undertake to furnish to the AD a fully documented account sale certified by the consignees /Chamber of Commerce of the country of import or any other documents required by the State Bank of Pakistan. I/We declare that nothing material or relevant to the information has been omitted or suppressed and whatever is stated herein is true to my/our knowledge and belief. I/We undertake to submit to the AD within fourteen days of shipment, the documents for negotiation/for sending on collection. I/We hereby expressly authorize the State Bank of Pakistan (SBP) to share my/our outstanding overdue information with ADs/ banks, for the purpose of conducting due diligence related to my/our export activities (Irrespective of the fact whether the same is challenged before a Court or otherwise).I/We also permit the ADs/banks to access my/our outstanding overdue information available on the Exporter's Information Portal (EIP) maintained by SBP. Copyright Business Recorder, 2025
Business Recorder
06-06-2025
- Health
- Business Recorder
Safer, smarter healthcare services: Federal, Punjab Health ministries to launch joint initiatives
ISLAMABAD: The Federal Health Ministry and the Punjab Health department have decided to join hands for stronger, safer, and smarter healthcare services. The major development for national health collaboration came here on Thursday during a high-level meeting between Federal Minister for Health Mustafa Kamal and Punjab Minister for Primary and Secondary Healthcare Khawaja Imran Nazir. The meeting focused on strengthening coordination between the federal and provincial governments to address critical healthcare challenges and launch joint initiatives across key health areas. The meeting decided taking joint action against counterfeit medicines, coordinated efforts on polio eradication and dengue prevention and advancement of digital health systems and regulatory reform. The meeting was also attended by Special Secretary Health Syed Waqarul Hassan, Additional Secretary Health, Chief Information Officer of DRAP, Director General Health, and the President of the Pakistan Medical and Dental Council (PMDC),Dr Rizwan Taj. Kamal reiterated the federal government's resolve to address healthcare issues with urgency. He stated that under the direction of the prime minister, particular focus is being placed on eliminating polio and ensuring timely implementation of health programmes. 'The fight against polio continues with full zeal, until the virus is eliminated, our children remain at risk,' he emphasised. He shared plans for a new national strategy for polio eradication and urged parents to disregard negative propaganda and ensure their children are vaccinated. 'In Palestine, even during war, mothers call for vaccinators with whistles. Pakistani mothers must also play their part in protecting their children,' he said. Kamal highlighted steps being taken by DRAP to combat counterfeit medicines, including the rollout of a modern barcode system. This will enable every medicine to carry a unique code that patients can scan to verify authenticity and price. Additionally, export certifications such as GMP, CoPP, and NOCs are now being processed online via the Pakistan Single Window, and all regulatory submissions are handled through the new 'e-App' online platform. Provincial Minister Khawaja Imran Nazir reaffirmed Punjab's full support for the federal government's health agenda. 'Punjab has greater capacity and resources, and we are ready to share these to benefit all provinces. The health of our people must come before all else,' he stated. He also praised DRAP's initiatives under the leadership of Minister Kamal, particularly, those targeting counterfeit pharmaceuticals. The two ministers agreed on the importance of coordinated measures to prevent dengue outbreaks in Islamabad and Rawalpindi and committed to united efforts in disease prevention, vaccination campaigns, and health system strengthening. They stressed that collaboration between federal and provincial levels is crucial to achieving meaningful progress in the health sector. Copyright Business Recorder, 2025
Express Tribune
08-05-2025
- Business
- Express Tribune
Sector-wide reforms initiated
The Cabinet Committee on Regulatory Reforms (CCoRR), in its first meeting at the Board of Investment, approved wide-ranging reforms across multiple sectors — including DRAP, NHA, PHA, FSC&RD. photo: file Listen to article The government is going to introduce a set of reforms in different sectors of the country to ensure ease of doing business. The Cabinet Committee on Regulatory Reforms (CCoRR) in its recent meeting agreed to a set of reforms to be introduced in the coming days. The first meeting of the Cabinet Committee on Regulatory Reforms (CCoRR) was held at the Board of Investment on May 6, 2025, in line with Prime Minister Shehbaz Sharif's vision to streamline Pakistan's regulatory landscape and improve the ease of doing business. The reforms are going to be introduced in multiple sectors including the Drug Regulatory Authority of Pakistan (DRAP), National Highway Authority (NHA), Pakistan Halal Authority (PHA), and the Federal Seed Certification and Registration Department (FSC&RD). One key proposal calls for DRAP to sign a Memorandum of Understanding (MoU) with the Intellectual Property Organisation of Pakistan (Pak-IPO) to ensure real-time data sharing related to trademark registration. Currently, a lack of coordination between the two entities has resulted in overlapping brand name claims. The proposed alignment would be in line with international best practices. The committee has also agreed that DRAP should adopt the principle of "obtain once, use multiple times" to eliminate the duplication of documents in its licensing processes. Additionally, the committee has directed the authority to prescribe fixed timelines for the evaluation and issuance of licenses, certificates, and permits. The cabinet body has also directed Islamabad Healthcare Regulatory Authority (IHRA) to outsource licensing and registration inspections of healthcare facilities to accredited third-party inspectors (TPIs) in a bid to reduce procedural delays. Mandatory inspections, which are currently handled in-house, have been cited as time-consuming and inefficient. In another move, IHRA has been directed to digitise its complaint management system to include businesses alongside patients, ensuring a more comprehensive and tech-enabled grievance redressal mechanism. Under the reforms, the PHA has been directed to revise its certification fee structure, which currently imposes a 0.025% turnover fee on businesses. The fee has been labelled as an indirect tax that discourages growth and hurts export competitiveness. The committee has agreed to exempt exporters from this fee and to automate and integrate the entire Halal certification process with the Pakistan Single Window (PSW) for enhanced efficiency. The committee has agreed to several reforms in Islamabad Capital Territory (ICT) under the Labour Welfare Department (LWD) and the Registrar of Firms (ROF): Currently, there is no defined timeline for boiler inspections during manufacturing unit registration. The committee has agreed to set a clear timeline, similar to India's 30-day inspection requirement. The factory registration process remains fully manual, requiring physical visits, extensive paperwork, and repeated follow-ups. ICT has proposed streamlining and digitising the system. CCORR is expected to review implementation strategy and financial requirements. The partnership firm registration process currently demands in-person appearances from all partners and witnesses. Authorities now proposed moving to a fully digital registration process. CCORR may direct ICT to set a specific implementation timeline. A proposal has been made to extend the validity of trade licenses, which are currently valid for only one year. Currently, trade licenses require annual renewals and mandatory inspections. The proposal involves extending the validity to three years to reduce the compliance burden. CCORR may issue formal instructions to implement this change.
Express Tribune
01-05-2025
- Business
- Express Tribune
Startup unveils AI solution for foreign trade
Listen to article A Pakistani technology company, Galaxefi, has introduced AI Faceless Operations, a fully automated, round-the-clock system designed to digitalise and streamline cross-border trade processes. The solution aims to address major inefficiencies in the trade sector, which currently suffers an estimated annual loss of $36 billion due to outdated, paper-based systems that also threaten up to 3 million jobs. Galaxefi's innovation centres on Galaxbot, a multilingual, AI-powered virtual assistant that enables users to manage trade operations through simple voice or chat commands. The assistant can automatically complete shipment details, generate customs and regulatory documents, provide real-time cargo tracking, and issue alerts in case of exceptions or delays. As per details shared by the company, the new system is designed to operate without the need for human oversight, making it ideal for around-the-clock logistics support. Complementing Galaxbot is Butler Services, a network of AI agents that perform routine logistics tasks such as customs filings, inventory checks, and customer service. These AI agents allow businesses, particularly SMEs and logistics providers, to manage peak-season demand without hiring additional staff. This "faceless" approach to resource management not only boosts efficiency but also significantly reduces operational costs. The launch of AI Faceless Operations is aligned with national initiatives like Digital Pakistan and the Pakistan Single Window (PSW), both of which aim to modernise the country's trade infrastructure. According to Galaxefi, the system can accelerate processing times by up to 70%, cut down on overhead, and enable hands-free, 24/7 trade facilitation. "As Pakistan moves toward digital trade, we need a hands-free solution that never sleeps," said Asif Pervez, Founder and CEO of Galaxefi. "Our AI Faceless Operations let companies focus on growth, not paperwork." Asif emphasised that the system is built to empower Pakistani exporters, solo entrepreneurs, and service providers with global-level capabilities, reducing reliance on manual processes and enabling seamless integration into modern supply chains. "This is just the beginning," he added. "In-Shaa-Allah, there's more to come."
Express Tribune
17-04-2025
- Business
- Express Tribune
PSW launches e-certification for pharma exports
Listen to article In its continued efforts to enhance Pakistan's export competitiveness by digitalizing cross-border trade processes and information requirements, the Pakistan Single Window (PSW), in collaboration with the Drug Regulatory Authority of Pakistan (DRAP), has launched the Digital Certificate of Pharmaceutical Product (COPP), required for the export of pharmaceutical products by importing countries. In addition to COPP, the DRAP Clearance Gateway has also begun offering electronic Free Sale Certificate, Good Manufacturing Practice (GMP) Certificate, and the No Objection Certificate (NOC) for exports. This initiative aims to streamline regulatory processes, reduce delays, and align Pakistan's pharmaceutical industry with global best practices. All certificates issued through the PSW platform are secure, electronically verifiable, and embedded with a unique QR code for instant authentication. The service eliminates inefficiencies associated with paper documentation, ensures regulatory compliance, and enhances transparency and trust in Pakistan's pharmaceutical exports, especially in highly regulated markets such as the European Union and the United States. Exports remain a cornerstone of Pakistan's economic development, and strategic efforts like Uraan Pakistan have been rolled out to support cross-border trade. Among key sectors, the pharmaceutical industry has emerged as a high-potential contributor. In FY 2023-24, Pakistan's pharmaceutical exports reached approximately $341 million, reflecting a 3.90% growth over the previous year. "We are proud to introduce the Digital Certificate of Pharmaceutical Product, which will bring Pakistan's pharmaceutical industry in line with global best practices," said Aftab Haider, CEO of Pakistan Single Window. "This initiative significantly enhances the efficiency and transparency of our regulatory systems and will boost exports by ensuring our products meet the highest international standards. The initiative is in line with the Prime Minister's vision of a Digital Pakistan." Dr Obaidullah Malik, CEO of DRAP, emphasised the significance of the development, stating, "The launch of the Digital Certificate of Pharmaceutical Product (COPP), Free Sale Certificate, GMP Certificate, and Export NOC through the DRAP Clearance Gateway reflects our commitment to modernising regulatory practices and strengthening trust in Pakistan's pharmaceutical sector." This development is a key component of Pakistan's broader strategy to digitalise regulatory systems, improve operational efficiency, and foster export-led growth in the pharmaceutical sector.
