ISLAMABAD: The Federal Board of Revenue (FBR) has signed a memorandum of understanding (MoU) with Pakistan Sugar Mills Association (PSMA) to operationalize Video Analytics Rules, 2020, for the sugar sector.
FBR Member (IR-Operations) Dr Muhammad Ashfaq Ahmed and PSMA Central President Iskandar Khan signed the MoU on behalf of their respective organizations during a ceremony held at the FBR headquarters in Islamabad.
FBR had recently issued Video Analytics Rules, 2020, vide SRO 889(I)/2020, for electronic monitoring of specified goods.
Welcoming the PSMA central chairman and other members, Dr Muhammad Ashfaq Ahmed said that the board believes in minimizing the contact between tax collector and taxpayer to ensure ease of doing business.
“For this purpose, a ‘video analytics technology’ has been introduced to monitor the production of specified goods through high-tech video cameras to be installed on the production lines of sugar industry,” he informed.
He said the introduction of new technology would enable FBR to receive real-time video analytics data of production from manufacturing sites and use it for tax collection purposes.
PSMA Central President Iskandar Khan termed the signing of the MoU “a historic event”, as the association is the first trade body in Pakistan which voluntarily joined the process of electronic monitoring of production activities.
He assured that his association would continue to support the efforts of FBR for digitalization of economic activities in the country. The introduction of technology would help both organisations improve their image, he added.
Project Director Tariq Hussain Shaikh on the occasion gave a brief introduction on video analytics technology, saying that equipment in this regard would be provided by the FBR’s authorized vendors to the sugar manufacturers, connecting their production lines/manufacturing sites to the central control room of FBR.