ISLAMABAD   -    The government has released an amount of Rs76 million for the development of Integrated Transit Trade Management System (ITTMS) being developed under the Asian Development Bank (ADB) Regional Improving Border Service Project. The project envisages establishment of state-of-the-art facilities at Wagah, Torkham and Chaman border crossing points, official sources said, adding that once completed, it would enable significant reduction in processing times at the border crossing points. “The project is of great strategic importance from both a security and trade point of view,” they added. The government had earmarked Rs480 million for the project under the Public Sector Development Programme (PSDP) for the fiscal year 2019-20, with foreign assistance of Rs100 million, official sources said. The total cost of the ITTMS project has been estimated at Rs31,626.2 million which included the foreign exchange component of Rs 26049.7 million. The project was approved by Executive Committee of National Economic Council (ECNEC) in September 2015. Pakistan had a great importance in the region owing to its unique geo-strategic position and all the potential to become the most preferred corridor for trade in South and Central Asia. However, due to very weak and almost rudimentary trade related infrastructure, Pakistan had missed the opportunity to channel the trade from and to the landlocked neighboring countries and other emerging economies of the world, including China and India to become part of the massive global supply chain.