Islamabad — The Federal Board of Revenue (FBR) has started a new project to modernize the goods delivery system in Pakistan and bring transparency in trade.
Under this project, the traditional paper billets will be converted into electronic billets to make the process of transporting goods more efficient and transparent.
According to the FBR, a strategic feasibility assessment and design agreement has been signed for this purpose and now the technical phase of the project has been started.
According to officials, the central part of the project will be Cargo Tracking System (CTS) through which the movement of commercial goods can be tracked digitally.
Under the new system, a unique e-bill will be issued for each consignment, which will include a QR code, through which the relevant authorities will be able to verify it immediately.
The FBR says that this move will make it easier for customs enforcement teams to differentiate between law-abiding traders and cargo involved in illegal activities.
The FBR Chairman said that this project is an important step towards establishing a transparent and digital economy in Pakistan.
He said that through this system, weaknesses in the tax system will be removed and the possibility of fake sales tax invoices will be eliminated.
According to Member Customs Operations, this system will also help in facilitating trade as physical inspection of goods along the way and delays will be reduced.
He said that the CTS system will provide risk-based data to officers, which will make the monitoring process more effective and faster.
According to the FBR, under this project, the selected consulting firm has been entrusted with the responsibility of reviewing international best practices and developing a technical design suitable for Pakistan.
Experts say that if this project is fully implemented, Pakistan’s logistics and transit trade laws will come close to global standards.
According to them, this initiative will not only bring transparency in trade but also promote business activities.
