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ISLAMABAD: In a first, Pakistan has launched an artificial intelligence-based customs clearance and risk management system, aiming to improve transparency, reduce human intervention and make cross-border trade more efficient, the Prime Minister’s Office said in a statement on Monday.

Developed by the Federal Board of Revenue (FBR), the new system uses AI, bots, and machine learning to automate the classification and valuation of imported and exported goods. Officials say this will reduce delays, streamline tax assessment and minimize manual interference by customs personnel.

“The new risk management system will bring transparency to the system, reduce human intervention to a minimum and facilitate businesspersons,” according to a statement from PM Shehbaz Sharif’s office after he chaired a high-level meeting on the subject. 

“With the launch of the new system, there will be an immediate and effective estimation of the classification and cost of goods, resulting in time savings.”

During initial testing, authorities recorded more than 92% improved performance and an 83% increase in identified goods declarations for tax collection. The FBR also reported a one-and-a-half-times increase in green channel clearances compared to previous manual processes.

Sharif described FBR reform as one of the government’s top priorities and emphasized the importance of integrating and sustaining the new platform.

“By automating the tax system, we are making it more transparent and effective,” the PM said, adding that the AI-powered system would enable “ease of doing business and make things easier for taxpayers.”

“Due to reduced human intervention, the system will be more efficient and will save time and money,” he added.

During the meeting, officials also briefed Sharif on ongoing efforts to increase tax collection in the manufacturing sector using video analytics. The system, they said, would allow automated and transparent tax assessment and had shown 98% efficiency in early-stage testing. No timeline for full rollout was given in the statement.

Pakistan’s current customs clearance system has long been criticized for its heavy reliance on manual processes, which leave it vulnerable to delays, inefficiencies and corruption. Importers frequently face inconsistent valuation of goods, excessive documentation requirements, and prolonged clearance times at ports, all of which contribute to higher costs of doing business.

The lack of automation and poor risk profiling mechanisms have also led to overburdened inspection processes, creating bottlenecks in trade and undermining investor confidence.

KARACHI: The benchmark KSE-100 crossed the 133,000 points barrier during intra-day trading on Monday to hit a record high, according to data shared by the Pakistan Stock Exchange (PSX), with a financial analyst attributing the rally to investors shifting from fixed income funds toward equities, and the country’s improving macroeconomic conditions. 

The benchmark KSE-100 index rose by 1,907.53 points or 1.45 percent to reach 133,856.59 points at 12:31 p.m. from the previous day’s close of 131,949.06 points, according to the PSX website. 

Pakistan’s state broadcaster said the stock market’s upward trend reflects the business community’s growing confidence in the government’s economic policies.

“The top-most factor contributing to market rally is conversion of fixed income funds to equities,” Shankar Talreja, head of research at Karachi-based brokerage company Topline Securities, told Arab News. 

“Stocks generating over nine percent of the dividend yield have contributed most to the index rally,” he continued, “This is because this dividend yield matches the fixed income rate and any capital gain on these stocks would be cherry on the top.”

He noted that the market has been responding to improving macroeconomic indicators, adding that the State Bank of Pakistan’s reserves climbed to $14.5 billion at the end of June.

“The regional and geopolitical issues also subsided last month which has further given confidence to local investors,” Talreja added, referring to the Pakistan-India, Iran-Israel armed conflicts.

“We expect the index to touch 160,000 by June 2026.”

The development comes after the PSX breached the 130,000 points barrier last week to close at an all-time high, with experts attributing the surge to low inflation and surging crude oil prices. 

Pakistan’s stocks have surged as Islamabad moves to consolidate its financial recovery after years of economic turbulence. In recent years, the country has implemented tough structural reforms under International Monetary Fund loan programs aimed at reducing fiscal deficits and restoring investor confidence.