PM to launch tracking system for sugar industry on 23rd

Published November 17, 2021
Prime Minister Imran Khan chairs a meeting of the federal cabinet in this file photo. — Photo courtesy: PMO Twitter
Prime Minister Imran Khan chairs a meeting of the federal cabinet in this file photo. — Photo courtesy: PMO Twitter

ISLAMABAD: Prime Minister Imran Khan will inaugurate the Track and Trace System (TTS) of the Federal Board of Revenue (FBR) on Nov 23 under which movement of sugar bags will be monitored in order to check tax evasion in the sugar industry.

Last month, FBR extended the TTS to the cigarette sector to check tax evasion there. So, sugar industry will emerge as the second sector to be brought under electronic monitoring. The FBR is planning to bring the beverage and petroleum sectors under TTS.

An official announcement said the FBR has already issued Sales Tax General Order No. 5 which ordains that no sugar bag will be allowed to move out of a production site, factory premises or manufacturing plant without affixation of activated stamps/Unique Identification Marking (UIMs) with effect from November 11, 2021.

The UIMs are to be obtained/procured from FBR’s Licensee AJCL/MITAS/Authentix Conso­rtium. The Sales Tax Act-1990 read with Rule 150 ZF of the Sales Tax Rules-2006 mandate FBR to notify the date for the implementation of Electronic Monitoring of Production and Sales of Goods in the manner prescribed in the law on all manufacturing sites of notified sectors.

After rolling out electronic monitoring of tobacco sector, FBR is now implementing TTS in the next significant sugar sector which will be followed by the remaining sectors.

TTS will ensure electronic monitoring of manufacturing and sales of products of important sectors consisting of tobacco, fertilisers, sugar and cement.

Published in Dawn, November 17th, 2021

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Smog hazard
Updated 05 Nov, 2024

Smog hazard

The catastrophe unfolding in Lahore is a product of authorities’ repeated failure to recognise environmental impact of rapid urbanisation.
Monetary policy
05 Nov, 2024

Monetary policy

IN an aggressive move, the State Bank on Monday reduced its key policy rate by a hefty 250bps to 15pc. This is the...
Cultural power
05 Nov, 2024

Cultural power

AS vital modes of communication, art and culture have the power to overcome social and international barriers....
Disregarding CCI
Updated 04 Nov, 2024

Disregarding CCI

The failure to regularly convene CCI meetings means that the process of democratic decision-making is falling apart.
Defeating TB
04 Nov, 2024

Defeating TB

CONSIDERING the fact that Pakistan has the fifth highest burden of tuberculosis in the world as per the World Health...
Ceasefire charade
Updated 04 Nov, 2024

Ceasefire charade

The US talks of peace, while simultaneously arming and funding their Israeli allies, are doomed to fail, and are little more than a charade.