LAHORE: The Punjab Information Technology Board (PITB) and the Khyber-Pakhtunkhwa Board of Revenue (BoR) signed a memorandum of understanding for the implementation of the electronic stamping system in the province, according to a statement.
PITB Chairman Azfar Manzoor, Senior KP Revenue Board Member Syed Zafar Ali Shah and KP Deputy Finance Secretary Ammara Khan signed the MoU on behalf of their respective organizations.
PITB e-governance director general Sajid Latif, director Hammad Hassan Hamdani and representatives of KP including land record director KP Mushtaq Hussain and e-Stamping project director KP Shabbir Ahmed and other senior officials were also present on occasion.
Azfar Manzoor said: “PITB’s flagship e-Stamping project has achieved remarkable results across Punjab since its inception. A total of Rs244 billion in revenue has been collected so far through the electronic stamping system in Punjab.
He also said that PITB’s electronic stamping system revolutionized the traditional system and digitized the stamp paper issuance process for the convenience of citizens.
“The digitization of the KP stamp paper issuance will increase revenues and bring transparency,” he added.
Zafar Ali Shah said that fraud, financial theft and counterfeiting, which were common in the past, would now be eliminated through this system.
“The old system of obtaining buffer paper at KP will be replaced by a modern technology-driven system. The implementation of a modern system in the province with the help of the PITB will bring transparency and eliminate corruption, ”he said.
Previously, PITB had also signed a memorandum of understanding with the government of Sindh in the same spirit and the implementation of electronic stamping is now underway in the province.
The collection of stamp duty has been a major source of revenue for the government of Punjab. The centuries-old process presented major issues related to citizen facilitation, such as revenue leakage through bogus and fraudulent practices.
The electronic franking system has radically transformed the traditional way of issuing stamps, reducing the issuance time from two to three days to just 15 minutes.