ANL 11.45 Increased By ▲ 0.33 (2.97%)
ASC 9.80 Increased By ▲ 0.15 (1.55%)
ASL 11.35 Increased By ▲ 0.09 (0.8%)
AVN 78.30 Increased By ▲ 3.89 (5.23%)
BOP 5.83 Increased By ▲ 0.06 (1.04%)
CNERGY 5.54 Increased By ▲ 0.26 (4.92%)
FFL 6.97 Increased By ▲ 0.06 (0.87%)
FNEL 6.15 Increased By ▲ 0.10 (1.65%)
GGGL 12.15 Increased By ▲ 0.21 (1.76%)
GGL 16.82 Increased By ▲ 0.69 (4.28%)
GTECH 9.65 Increased By ▲ 0.54 (5.93%)
HUMNL 6.65 Increased By ▲ 0.11 (1.68%)
KEL 2.56 Increased By ▲ 0.04 (1.59%)
KOSM 3.00 Decreased By ▼ -0.01 (-0.33%)
MLCF 27.25 Increased By ▲ 0.95 (3.61%)
PACE 3.10 Increased By ▲ 0.06 (1.97%)
PIBTL 6.11 Increased By ▲ 0.12 (2%)
PRL 17.88 Increased By ▲ 1.28 (7.71%)
PTC 8.15 Increased By ▲ 0.65 (8.67%)
SILK 1.43 Increased By ▲ 0.06 (4.38%)
SNGP 26.09 Increased By ▲ 0.29 (1.12%)
TELE 11.76 Increased By ▲ 1.01 (9.4%)
TPL 9.89 Increased By ▲ 0.59 (6.34%)
TPLP 17.68 Increased By ▲ 1.03 (6.19%)
TREET 30.10 Increased By ▲ 1.20 (4.15%)
TRG 81.68 Increased By ▲ 3.28 (4.18%)
UNITY 23.27 Increased By ▲ 1.06 (4.77%)
WAVES 13.50 Increased By ▲ 0.55 (4.25%)
WTL 1.60 Increased By ▲ 0.06 (3.9%)
YOUW 5.10 No Change ▼ 0.00 (0%)
BR100 4,233 Increased By 69.5 (1.67%)
BR30 15,486 Increased By 584.9 (3.93%)
KSE100 42,542 Increased By 529.1 (1.26%)
KSE30 16,143 Increased By 230 (1.45%)

ISLAMABAD: The Federal Board of Revenue (FBR) Chairman, Dr Muhammad Ashfaq Ahmed, said Tuesday that the FBR will extend the track and trace system to other key sectors including beverages, petroleum, pharmaceuticals, and steel for which a proposal will be submitted to the prime minister for approval.

At the special ceremony organised on the FBR’s Track and Trace System on sugar sector at Prime Minister’s Office here on Tuesday, Chairman FBR Dr Muhammad Ashfaq Ahmed, in his presentation explained the scope and significance of this high valued digital intervention.

He stated that several attempts were made at introducing the Track and Trace System in Pakistan starting in 2008 and over a period of 13 years there were five unsuccessful attempts which failed due to lack of expertise, want of political will, corruption and other unethical practices.

“The present government took a very bold step and provided the FBR with strong support to implement Track and Trace System not just in tobacco, as previously planned but added more sectors like sugar, cement and fertilisers,” he added.

He also informed the audience that the FBR intends to expand the scope of TTS to other key sectors, which include beverages, petroleum, pharmaceuticals and steel and soon a proposal in this regard will be submitted to the prime minister for his approval.

He positively hoped that this key intervention in sugar sector shall yield more revenues, minimise human interaction between the FBR and taxpayers and thus, ensure ease of doing business.

He reaffirmed his resolve to maximise efforts to expand digitisation to all key sectors in order to ensure transparency, plug leakages and thus, maximise revenue potential.

He concluded by thanking Sugar Mills Association for their cooperation in rolling out this important initiative and also appreciated the technical support provided by the licensed consortium in making this key digital intervention possible.

Copyright Business Recorder, 2021

Comments

Comments are closed.