Introduction of Track and Trace System in industries termed an important step
Introduction of Track and Trace System chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain said introducing Track and Trace System (TTS) in industries is a big decision.
FBR considers that it will reduce tax evasion and improve revenue but industrialists and importers are opposing it as they want it transparent and corruption-free, he said.
Mian Zahid Hussain said that authorities should consider changes in the system demanded by the business community and allay their reservations.
Talking to the business community, the veteran business leader said that Chairman FBR has decided to install TTS in tobacco, beverages, sugar, fertiliser, and cement industry while it will be expanded to other sectors after success in the first phase.
He said that TTS will be working for cigarette manufacturers by the next month in the provinces and AJK to boost revenue which was around Rs 130 billion during 2021.
The business leader said that sugar industry is also opposing this system on the grounds that sugar bags are made of polypropylene and TTS stickers will not work on that therefore QR codes should be printed on these bags.
He said that all the factories manufacturing polypropylene bags should be asked to print QR codes on their product while FBR should find a way to allay concerns of the business community to make this move acceptable for all stakeholders.
He said that K-Electric is adding 900 megawatt to the power system by the next year which will provide relief to masses and boost industrial activity.
Steel Mills should be sold immediately and Steel Policy should be announced without any delays as construction activities are suffering from increasing prices of steel rebars.