ISLAMABAD: Prime Minister Imran Khan on Friday announced ‘good news’ saying that the Federal Board of Revenue (FBR) has successfully launched its Track and Trace System aimed at digitizing the economy, ARY NEWS reported.
In a message from his personal Twitter handle, Imran Khan announced the launch of the system and said that it would help boost additional revenue, digitise the economy, and curb counterfeiting.
More good news: FBR has successfully launched its Track & Trace System. It will help boost additional revenue, digitise the economy, curb counterfeiting — all steps towards effective & transparent governance.
— Imran Khan (@ImranKhanPTI) October 1, 2021
The prime minister further said that all these steps are aimed towards effective and transparent governance.
In 2019, the Federal Board of Revenue (FBR) decided to launch the Track and Trace System for major sectors of the economy.
According to FBR, the decision was made in order to prevent leakage of revenue, under-reporting of production and sales, and to ensure proper payment of Federal Excise Duty and Sales Tax on the manufacture and sale of specified goods.
The system will be implemented for specified goods/ products which are Cement, Sugar, Fertilizer and Beverages imported into or manufactured in Pakistan.