KARACHI May 11th 2004: The National Trade and Transport Facilitation Committee (NTTFC) of the Ministry of Commerce (MoC) with the technical assistance of the United Nations Conference on Trade and Development (UNCTAD) has initiated standardisation of trade procedures and documentation aimed at developing simplified documents of trade facilitation in Pakistan. The group from the trade and industry of businessmen has been identified to provide inputs during the process of working on standardisation of the documents. The objective is to bring the country close to the pattern of working with our contracting parties of the global trade. This harmonisation will help the country in conducting faster business in imports and exports and as well it will result in time saving recognised as money saving in doing business smoothly across the borders and through the other modes of doing business involving onward and inward flow of commodities as international trade. The outcome of the study group through hired consultants will become recommendation for implementation through the Ministry of Commerce by other ministries, including Central Board of Revenue (CBR) as the major identified stakeholder to facilitate growth of trade from Pakistan. Consultants hired for the study have been assigned the task of analysing business processes of all the stakeholders related to exports from Pakistan to provide a model for analysing trade transactions in a manner that can be adopted by different industries interested in reducing transaction times and costs.Asia Pulse:
