LAHORE: The Punjab government has collected over Rs 271 billion in revenue through the e-stamping system since its launch in May 2016 while over 17 million transactions were recorded till date.

As per the details shared by Punjab Information Technology Board (PITB), the e-stamping system was one of the flagship projects of the Punjab government executed by PITB. It has helped improve the collection and minimise forgery while ensuring transparency and a hassle-free process.

The system calculates the value of the stamp paper needed by the buyer automatically.

The names of the buyer, seller, and the person from whom the stamp papers are purchased were entered along with their CNIC numbers. The process is completed and the purchaser acquires the e-stamp paper in just 15 minutes.

The same system was recently launched in Sindh by PITB in collaboration with the Sindh government and the National Bank of Pakistan, which will be completely rolled out across the province by the end of June 2022.

The initiative has already generated over Rs 928 million in revenue through 15,335 transactions in various districts of Sindh. The project is also in the pilot phase in Khyber Pakhtunkhwa (KP) and will be fully implemented across KP soon.

Copyright Business Recorder, 2022