KARACHI – The tri-partite agreements were signed at LTO, Karachi amongst the representatives of Sugar mills, FBR, and the consortium AJCL/Mittas/ Authentix for the implementation of the Track & Trace System (TTS). Mr. Shahid Iqbal Baloch, the Chief Commissioner, LTO, welcomed the representatives and oversaw the signing ceremony. Speaking on the occasion, the Chief Commissioner highlighted the importance of the TTS.
He believed that the launching of the TTS will be a great stride towards accelerating digitization of economic activity, improving revenue forecasting, and curbing counterfeit products in the market. The Track and Trace Solution is to be rolled out in a multi-phasic manner across the Tobacco, Cement, Sugar and Fertilizer Sectors in Pakistan with a view to enhancing tax revenue, reducing counterfeiting, and preventing the smuggling of illicit goods through the implementation of a robust, nationwide, electronic monitoring system of production volumes and by the affixation of more than 5 billion tax stamps on various products at the production stage, which will enable FBR to track the goods throughout the supply chain.
Mr. Tariq Hussain Shaikh, the Project Director, (Track & Trace System), FBR reiterated the importance of the project and called it a game-changer for improving revenue and curbing counterfeit products in the market. The meeting concluded with the handing over of the agreements by the Chief Commissioner to the representatives on behalf of FBR.
