ISLAMABAD – The government has released an amount of Rs76 million for thedevelopment of an Integrated Transit Trade Management System (ITTMS), beingdeveloped under the Asian Development Bank’s (ADB) Regional ImprovingBorder Service Project.
The project envisages the establishment of state-of-the-art facilities atWagah, Torkham and Chaman border crossing points, official sources said,adding that once completed, it would significantly reduce the processingtime at crossing points.
The project is of great strategic importance both in terms of security andtrade, they added.
The government had earmarked Rs480 million for the project under the PublicSector Development Programme (PSDP) for the fiscal year 2019-20, withforeign assistance of Rs100 million.
The total cost of the ITTMS project has been estimated at Rs31,62 billion,which includes a foreign exchange component of Rs26,04 billion.
The project was approved by the Executive Committee of National EconomicCouncil (ECNEC) in September 2015.
Experts believe Pakistan has great importance in the region owing to itsunique geostrategic position and has the potential to become the mostpreferred corridor for trade in South and Central Asia.
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However, due to very weak and almost rudimentary trade-relatedinfrastructure, Pakistan had missed the opportunity to channel the tradefrom and to the landlocked neighbouring countries and other emergingeconomies of the world, including China and India, to become part of themassive global supply chain.
The ITTMS is being executed under Central Asia Regional EconomicCooperation-Regional Improving Border Services (CAREC-RIBS).
According to sources, the project would help upgrade the infrastructure atborder crossing points, in the context of CAREC Corridor for Trade, tosupport a modern supply chain.
“The project includes the development of one-window ICT-based systems andprocedures,” they said. “The cargo movement from and to Karachi goingupcountry for internal consumption within the country or for transitmovement destined to exit from Chamman, Torkham and Wagha would beprocessed and routed through an integrated system to reduce dwell time forcargo clearance and onward dispatch.”
Sources said the project would also ensure a proper exit of outbound cargo,a check on the backward flow of goods, decrease in the incidences ofsmuggling for keeping, pave way for one-window operations at country andregional level as well as for the introduction of Authorized EconomicOperators.
