In Islamabad, the government has officially announced the subscription and renewal fees for Pakistan Single Window (PSW) services to streamline the import and export process. According to the notification issued by the Ministry of Finance and Finance Division, these fees will be effective immediately.
According to the FBR, the PSW and SECP verification fee has been fixed at Rs 500, while the goods declaration fee will be charged based on the value of the goods. The notification states that no fee will be charged on goods worth up to Rs 50,000, while a fee of Rs 500 will be charged on goods worth between Rs 50,000 and Rs 1 lakh.
Similarly, the fee for goods worth between Rs 1 lakh and Rs 1 million will be Rs 750, while Rs 1 million to Rs 5 million will be charged, while a fee of Rs 1,250 has been fixed for goods worth between Rs 5 million and Rs 1 crore. A declaration fee of Rs 1,500 will be charged on goods worth between Rs 1 crore and Rs 2.5 crore, while a declaration fee of Rs 2,000 will be charged on goods worth more than this.
According to trade experts, this new fee structure will help in increasing transaction transparency, strengthening system controls and modernising the clearance process. They say that PSW is already playing an important role in the trade sector and the new fees will make the system more sustainable.
