In order to operationalize Video Analytics Rules, 2020 on Sugar sector, a Memorandum of Understanding (MoU) was signed between Federal Board of Revenue (FBR) and Pakistan Sugar Mills Association in a ceremony held in FBR Headquarters in Islamabad.
Dr. Muhammad Ashfaq Ahmed Member (IR-Operations) FBR and Iskandar Khan Central President PSMA signed the MoU on behalf of their respective organizations. FBR has recently issued Video Analytics Rules, 2020 vide SRO 889(I)/2020, dated 21.09.2020 for electronic monitoring of specified goods.
While welcoming the Central Chairman and other members of the Pakistan Sugar Mills Association, Dr. Ahmed said that FBR believes in minimizing the contact between tax collector and taxpayer to ensure ease of doing business. For this purpose, 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.
The introduction of new technology will enable FBR to receive real-time video analytics data of production from the manufacturing sites and use it for tax collection purpose. Iskandar Khan Central President of PSMA remarked that it is a historic event that PSMA is the first trade body in the history of Pakistan, which voluntarily joined the process of electronic monitoring of production activities.
He assured that his association will continue to support the efforts of FBR for digitalization of economic activities in the country. The introduction of technology will help both the organisations to improve the image, which will also improve the image of the country, he added.
Project Director Tariq Hussain Shaikh was also present in the ceremony who gave brief introduction of Video Analytics technology and informed that the Video Analytics Equipment will 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.