PM approves Trade Facilitation Board

Prime Minister Shehbaz Sharif approved the formation of a Trade Facilitation Board on Thursday. The board, chaired by the prime minister himself, aims to simplify trade processes and tackle non-tariff barriers hindering international commerce. During a meeting in Islamabad, Sharif elaborated that the board would make decisions to enhance the overall trade supply chain and resolve challenges affecting cross-border trade.

The board will draft a roadmap for boosting trade, develop a Trade Facilitation Index, and set up a monitoring mechanism for progress. Sharif directed authorities to work on an emergency basis to boost the capacity of the country's ports and directed the formation of working groups to oversee this process. These groups will concentrate on raising port capacity, improving coordination among departments, ensuring regulatory compliance, smoothing pre-arrival clearance, and promoting small and medium-sized enterprises (SMEs) in international trade.

The prime minister also called for streamlining transportation, clearance, and other procedures for importers and exporters at ports, promising maximum possible facilitation to the business community. Ongoing reforms have led to significant reductions in port charges and an increased port utilization rate. Additionally, the expansion of the facility for submitting Goods Declarations before vessels' arrival is expected to expedite clearance procedures.

Sharif paid his respects to the victims of recent devastating flash floods and landslides in Nepal, signing a condolence book opened in memory of the deceased. He directed authorities to finalize detailed plans for Daanish University, including a construction timeline, within two weeks. The prime minister emphasized that the institution should offer international-standard education and technical training to students from economically disadvantaged and middle-income families, highlighting its distinct system and model of excellence.