Pakistan Single Window Reports Rs. 135 Million Surplus Income in FY23

Pakistan Single Window (PSW) has declared a profit or surplus income of Rs. 135 million in the financial year 2022-23, compared to the losses of Rs. 177 million reported in 2021-22, according to the PSW Assessment report released recently. The digital trade system reported revenue of Rs. 701 million in FY23, compared to Rs. 62.8 million in revenues reported in FY22. Its expenses also surged to Rs. 565 million from Rs. 236 million in the comparable year. In the first three financial years, PSW maintained deficits, as the company did not offer its services to users, and therefore there was no user/subscriber fee. In FY23, the PSW team developed and launched the PSW-System (PSW-S) at a cost of Rs. 1.8 billion or USD 5.5 million. It became able to cover its operating expenses with its operating income and revenue from subscriptions. Even though PSW is a not-for-profit company, it operates like a corporation. PSW has been able to generate surplus income/savings in the first two years of operation. As the subscriber base grows and users become more comfortable with an automated trade process, this surplus may grow. At present, more than 82,000 subscribers are availing themselves of different services offered by the digital integrated platform for cross-border trade. PSW charges Rs. 500 as a subscription fee. It also charges a goods declaration fee ranging from Rs. 500 to Rs. 1,000 on consignments valued up to Rs. 10 million. PSW plans future projects with donor funding or through its funds; however, it will remain sustainable if it can generate enough surplus to pay back any loans and keep covering its operating expenses. PSW is a non-profit, so any profit generated is retained as savings for future projects. After reviewing the revenue/income generated from subscription fees and functional expenditures, which are essential to running PSW, the assessment team has concluded that PSW has recently become financially sustainable. It shall remain sustainable if it continues to meet its operational expenditures.