ISLAMABAD: Federal Board of Revenue’s (FBR) Integrated Transit Trade Management System (ITTMS) has started working for Central Asia Regional Economic Cooperation (CAREC) corridor for trade under the Central Asia Regional Economic Cooperation Regional Improving Border Services Project.
According to official sources of FBR, One Window Information Communication Technology based system will be introduced for enhancement of trade among the Central Asian countries under this project. The scanning, checking and clearance will be done through this one window Information Communication Technology based System for all the goods imported to Pakistan under this corridor as well as goods exported to central Asian countries under the corridor sources added.
Sources added that Federal Board of Revenue (FBR) is fully responsible for the implementation of ADB financed project and is the authorized body for the implementation of Integrated Transit Trade Management System (ITTMS) while for Project Monitoring Unit (PMU) is established in FBR head quarter for thorough monitoring of movement of trade under this project.
It is important to mention here that the project will remove the key bottlenecks for movement of goods and people through Torkham, Chaman, and Wagha in Pakistan. As part of CAREC’s initiative for trade facilitation, the project will help CAREC countries take advantage of more efficient trade routes through Pakistan, and reciprocally, encourage Pakistan to play a strategic role in creating a larger regional market for intra-CAREC and inter-CAREC trade.
