Minister for Finance and Revenue Miftah Ismail held a meeting with Executive vice President of Authentix, Tim Driscoll in Islamabad on Monday.
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 Finance Minister about the updated status of track and trace system in major four sectors namely cement, sugar, fertilizer and tobacco.
It was shared that TTS system is beneficial for FBR to minimize tax evasion in the targeted sectors.
The Finance Minister expressed satisfaction over the progress of this system and emphasized that this system is imperative for controlling the tax evasion and illicit trade of various products.
The Finance Minister directed the delegation to ensure full implementation of this system at earliest time possible for improving overall revenue and curbing the untaxed products in the market.