Federal Minister for Finance and Revenue Miftah Ismail here on Monday held a meeting with Executive Vice President of Authentix Inc. Tim Driscoll to get updated status of Track and Trace System (TSS).
Senior Vice President Strategy and Corporate Development of Authentix, Sten Bertelsen, General Manager Pakistan of Authentix, Zafar Masood and other senior officers from finance division attended the meeting.
The delegation of Authentix briefed the minister about the updated status of track and trace system in four major sectors namely cement, sugar, fertilizer and tobacco.
It was shared that TTS system was beneficial for FBR to minimize tax evasion in the targeted sectors.
The minister expressed satisfaction over the progress of the system and emphasized that it was imperative for controlling the tax evasion and illicit trade of various products.
The minister directed the delegation to ensure full implementation of the system at earliest time possible for improving overall revenue and curbing the untaxed products in the market.—APP