Federal Board of Revenue (FBR) has decided to introduce Track and Trace System in four major industrial sectors, sources said on Monday
ISLAMABAD, (Pakistan Point News / Online - 09th December, 2019) Federal board of Revenue (FBR) has decided to introduce Track and Trace System in four major industrial sectors, sources said on Monday. The decision has been taken in order to compensate trust deficit and to ensure regularize federal excise and sale tax on major products such as sugar, cement, urea, and beverages. The decision will impact those industrialists earned more but show low income.
The FBR has decided to introduce the system to examine export of sugar, cement, urea, and beverages etc.FBR project director Taufeeq said all arrangements have been made for auction of licenses in four large sectors included sugar, cement, urea, and beverages. The guideline and documents related requirements will be published about all four large sectors in January 2020 after consulting all stakeholders.He said FBR will hold seminars of all stakeholders in order to get their consent over the project. First meeting in this regard had been held on December 2 this month and this meeting was with the representatives of cement manufacturers, second meeting held with urea manufacturers on December 5 and third meeting was held with the stakeholders on December 12.