Close Menu
World Economist – Global Markets, Finance & Economic Insights
  • Home
  • Economist Impact
    • Economist Intelligence
    • Finance & Economics
  • Business
  • Asia
  • China
  • Europe
  • Economy
  • USA
    • Middle East & Africa
    • Highlights
  • This week
  • World Economy
    • World News
What's Hot

Bitcoin rebounds from seven-week trough amid Fed concerns

August 27, 2025

China steps up Belt and Road Initiative funding with focus on Central Asia

August 27, 2025

What Jim Cramer wants to hear Jensen Huang say on Nvidia’s earnings

August 27, 2025
Facebook X (Twitter) Instagram
Wednesday, August 27
Facebook X (Twitter) Instagram
World Economist – Global Markets, Finance & Economic Insights
  • Home
  • Economist Impact
    • Economist Intelligence
    • Finance & Economics
  • Business
  • Asia
  • China
  • Europe
  • Economy
  • USA
    • Middle East & Africa
    • Highlights
  • This week
  • World Economy
    • World News
World Economist – Global Markets, Finance & Economic Insights
Home » PM launches first-ever AI-powered customs clearance, RSM – Business & Finance
Economist Intelligence

PM launches first-ever AI-powered customs clearance, RSM – Business & Finance

adminBy adminJuly 8, 2025No Comments3 Mins Read
Share Facebook Twitter Pinterest Copy Link LinkedIn Tumblr Email VKontakte Telegram
Share
Facebook Twitter Pinterest Email Copy Link
Post Views: 35


ISLAMABAD: In a game-changing move set to revolutionise the trade and tax landscape, Prime Minister Shehbaz Sharif on Monday unveiled the country’s first-ever Artificial Intelligence (AI)-based Customs Clearance and Risk Management System (RMS).

In a high-profile meeting chaired by the prime minister to review ongoing Federal Board of Revenue (FBR) reforms, officials revealed the new system leverages AI and automated bots to estimate the cost and nature of goods during imports and exports – a first for Pakistan’s trade sector.

During a briefing to the prime minister, FBR officials claimed that this marks a historic leap, moving Pakistan’s customs operations firmly into the digital age for the first time.

The early tests of the AI-driven RMS have been nothing short of spectacular, the meeting was told, with the system showing a 92 per cent improvement in overall performance, while goods declarations flagged for tax collection increased by 83 per cent.

Even more impressively, they added, clearance through the “green channel” – the fast-track lane for low-risk shipments – has increased by 2.5 times, promising major time savings for traders.

The system’s brain, according to the FBR, comprises cutting-edge machine learning algorithms that continuously evolve by analysing the movement of goods in real time, significantly reducing the need for human intervention and its commonly associated inefficiencies.

In his remarks, Prime Minister Sharif hailed the reform as one of the government’s top priorities to “automate the tax system, making it more transparent and effective.”

He emphasised that the new tech-powered framework will simplify doing business in Pakistan and provide much-needed relief to taxpayers burdened by bureaucracy.

“Less human intervention means less corruption, quicker clearances, and more money in the government’s coffers,” he noted, urging officials to ensure the system is integrated and sustainable for the long term.

Sharif also applauded the FBR team for their efforts in developing the system, stressing that Pakistan must keep pace with global standards to attract investment and bolster economic growth.

The meeting also highlighted a parallel breakthrough – a video analytics-based tool designed to improve tax collection in Pakistan’s manufacturing sector. This technology promises to automate tax assessments transparently and efficiently, removing room for human error or manipulation.

Tested with a reported 98 per cent accuracy rate, the system is poised to significantly boost government revenue and ease compliance for businesses – a major step forward for Pakistan’s fiscal health.

Finance Minister Muhammad Aurangzeb, Information Minister Attaullah Tarar, the FBR chairman Rashid Mehmood Langrial, and other senior officials attended the meeting, collectively pledging full support for these transformative initiatives.

Copyright Business Recorder, 2025



Source link

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email Telegram Copy Link
admin
  • Website

Related Posts

Economist Intelligence

Pakistan plans return to international capital markets amid improved ratings, says Aurangzeb – Business & Finance

August 27, 2025
Economist Intelligence

Pakistan Textile Council warns of disruption over EFS amendments – Markets

August 27, 2025
Economist Intelligence

Experts sceptical of Trump’s claim of ‘massive’ oil reserves in Pakistan: Bloomberg – Markets

August 27, 2025
Economist Intelligence

Banks, miners lead Aussie shares higher, Woolworths, Wisetech cap rise – Markets

August 27, 2025
Economist Intelligence

Australian dollar gets only fleeting help from high CPI – Markets

August 27, 2025
Economist Intelligence

Intra-day update: rupee gains further ground against US dollar – Markets

August 27, 2025
Add A Comment
Leave A Reply Cancel Reply

Editors Picks

Pakistan plans return to international capital markets amid improved ratings, says Aurangzeb – Business & Finance

August 27, 2025

Pakistan Textile Council warns of disruption over EFS amendments – Markets

August 27, 2025

Experts sceptical of Trump’s claim of ‘massive’ oil reserves in Pakistan: Bloomberg – Markets

August 27, 2025

Banks, miners lead Aussie shares higher, Woolworths, Wisetech cap rise – Markets

August 27, 2025
Latest Posts

PSX hits all-time high as proposed ‘neutral-to-positive’ budget well-received by investors – Business

June 11, 2025

Sindh govt to allocate funds for EV taxis, scooters in provincial budget: minister – Pakistan

June 11, 2025

US, China reach deal to ease export curbs, keep tariff truce alive – World

June 11, 2025

Subscribe to News

Subscribe to our newsletter and never miss our latest news

Subscribe my Newsletter for New Posts & tips Let's stay updated!

Recent Posts

  • Bitcoin rebounds from seven-week trough amid Fed concerns
  • China steps up Belt and Road Initiative funding with focus on Central Asia
  • What Jim Cramer wants to hear Jensen Huang say on Nvidia’s earnings
  • Sino Land profit falls due to lower rental income, falling occupancies
  • Sino Land profit falls due to lower rental income, falling occupancies

Recent Comments

No comments to show.

Welcome to World-Economist.com, your trusted source for in-depth analysis, expert insights, and the latest news on global finance and economics. Our mission is to provide readers with accurate, data-driven reports that shape the understanding of economic trends worldwide.

Latest Posts

Bitcoin rebounds from seven-week trough amid Fed concerns

August 27, 2025

China steps up Belt and Road Initiative funding with focus on Central Asia

August 27, 2025

What Jim Cramer wants to hear Jensen Huang say on Nvidia’s earnings

August 27, 2025

Subscribe to Updates

Subscribe to our newsletter and never miss our latest news

Subscribe my Newsletter for New Posts & tips Let's stay updated!

Archives

  • August 2025
  • July 2025
  • June 2025
  • May 2025
  • April 2025
  • March 2025
  • February 2025
  • January 2025
  • December 2024
  • June 2024
  • October 2022
  • March 2022
  • July 2021
  • February 2021
  • January 2021
  • November 2019
  • April 2011
  • January 2011
  • December 2007
  • July 2007

Categories

  • AI & Tech
  • Asia
  • Banking
  • Business
  • Business
  • China
  • Climate
  • Computing
  • Economist Impact
  • Economist Intelligence
  • Economy
  • Editor's Choice
  • Europe
  • Europe
  • Featured
  • Featured Business
  • Featured Climate
  • Featured Health
  • Featured Science & Tech
  • Featured Travel
  • Finance & Economics
  • Health
  • Highlights
  • Markets
  • Middle East
  • Middle East & Africa
  • Middle East News
  • Most Viewed News
  • News Highlights
  • Other News
  • Politics
  • Russia
  • Science
  • Science & Tech
  • Social
  • Space Science
  • Sports
  • Sports Roundup
  • Tech
  • This week
  • Top Featured
  • Travel
  • Trending Posts
  • Ukraine Conflict
  • Uncategorized
  • US Politics
  • USA
  • World
  • World & Politics
  • World Economy
  • World News
© 2025 world-economist. Designed by world-economist.
  • Home
  • About Us
  • Advertise With Us
  • Contact Us
  • DMCA
  • Privacy Policy
  • Terms & Conditions

Type above and press Enter to search. Press Esc to cancel.