An event held at Arfa Software Technology Park witnessed the signing of a Memorandum of Understanding (MoU) between the Punjab Information Technology Board (PITB) and Khyber Pakhtunkhwa (KPK) Board of Revenue (BoR) for the implementation of the e-Stamping system. PITB Chairman Azfar Manzoor, Senior Member KPK Board of Revenue Syed Zafar Ali Shah, and KPK Additional Secretary Finance Ammara Khan signed the MoU on behalf of their respective organizations.
The e-Stamping system
The main objective of the e-Stamping system is to prevent paper and process-related fraudulent practices, leakage of government revenues, and store information in electronic form, and build a central database to make ease of the verification process. Online stamping has replaced the traditional ways of paying stamp duty charges including physical stamp paper, it is an online method of paying non-judicial stamp duty on the property to the government. A senior member of the KPK board of revenue, Zafar Ali Shah stated; “The old system of obtaining stamp paper in KPK will be replaced with a modern tech-driven system. Implementing a modern system in the province with the help of PITB will bring transparency and eliminate corruption.”
The PITB Chairman Azfar Manzoor said; “PITB’s flagship project e-Stamping has achieved remarkable results across Punjab since its launch. A total of PKR 244 Billion of revenue has been collected through the e-Stamping System in Punjab to date. The PITB’s e-stamping system has revolutionized the traditional system and digitized the process of issuance of stamp paper for the convenience of the citizens, digitizing the issuance of stamp paper in KPK will increase revenue and bring transparency.”
Read More: Pakistan Railways Inaugurates a New Project of the E-Procurement System
PITB inked an MoU with the Government of Sindh
Earlier, PITB inked an MoU with the Government of Sindh, and e-Stamping implementation is presently underway throughout the province. The collecting of stamp duty has been a significant source of revenue for the government. The e-Stamping System has radically transformed the traditional procedure of stamp issuance minimizing the duration of issuance from 2-3 days to only 15 minutes.
Source: Tech Juice
