In collaboration with federal ministries and provincial departments, the Federal Board of Revenue (FBR) is poised to introduce an innovative Track and Trace System at cotton ginning factories across Pakistan.
This strategic move was formulated during a meeting between FBR Chairman Malik Amjed Zubair Tiwana and the Caretaker Federal Minister for Commerce, Industries, and Production, Dr. Gohar Ejaz.
The primary goal of this initiative is to bolster transparency in the cotton trade sector. This advancement is expected to significantly benefit the textiles and apparel industry, aiding it in aligning with traceability standards mandated by various trading blocs, nations, as well as renowned brands and retailers.
The newly proposed Track and Trace System (TTS) has been developed by the FBR to meticulously monitor the movement of goods within the country and ensure accurate tax payments.
This initiative involves the implementation of a sophisticated electronic monitoring system that encompasses the application of tax stamps or barcodes on products during the production stage. This approach empowers the FBR to effectively track the goods throughout the entire supply chain.
