After repealing 118 years redundant 1899 act, the challenge accepted two years back by the Punjab Information Technology Board (PITB) to launch electronic stamp papers e-stamping, the sale of judicial and non-judicial stamp papers have crossed the proceeds worth Rs 50 billion and their data is indestructible through blog chain application being used first time in Pakistan.
Dr Umar Saif, founding Vice Chancellor, Information Technology University (ITU) the Punjab, Chairman PITB and Advisor to the CM Punjab informed while briefing the media here on Wednesday. The media representatives were shown e-stamp dashboard in real time which conveyed that till today e-stamps worth revenue Rs 50,192,726,853 received by issuing 1,942,779 electronic stamp papers.
He said the increase witnessed was 20 percent as compare to the previous year. Currently e-stamps were available for above Rs 1000 denomination as their usage is 95 percent while below than Rs 1000 were only five percent, which were also being streamlined by registering "Waseeqa Navees", estimated around 7000 in the Punjab province who would be equipped with mobile application, he added.
The Chairman PITB said that now no one could undervalue the property as DC tables were integrated with the e-stamp system and the issuance of stamp papers period have also been reduced from three days to 20 minutes and the system have eliminated the chances of corruption, back dated, frivolous and fraudulent practices in this regard.
Dr Saif further stated that e-stamp was being rolled out in the Sindh province within next three months while the process was being initiated to for payment of all taxes through mobile valet in the Punjab province by associating State Bank of Pakistan, National Bank of Pakistan and Bank of Punjab. So far 57 million rural properties have been digitalized and now "Gardawari" and "Massavi" were also being digitalized along with urban moveable properties, he informed.
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