ISLAMABAD: The Prime Minister Imran Khan, on Friday, announced “good news” stating that Federal Board of Revenue (FBR) has launched successfully their Track and Trace System aimed to digitize the economy, ARY NEWS reported.
In a tweet on his personal Twitter account Imran Khan announced launch of the platform and claimed that it will to increase additional revenue, digitalize the economy and cut down on counterfeiting.
The prime minister added that all of these steps are aimed at ensuring an efficient and transparent government.
In 2019 In the end, the Federal Board of Revenue (FBR) has decided to establish The Track and Trace System for large industries that make up the market.
According to FBR the decision was taken in order to stop revenue leakage as well as under-reporting of sales and production, as well as to ensure the correct payment for Federal Excise Duty and Sales Tax for the production and sale of certain items.
This system is in place on specific products or goods that include Cement, Sugar, Fertilizer and Beverages imported from or produced in Pakistan.