On Saturday, the Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain said introducing Track and Trace System (TTS) in industries is a big decision.

FBR considers that it will reduce tax evasion and improve revenue, but industrialists and importers oppose it as they want it transparent and corruption-free.

Mian Zahid Hussain said that authorities should consider changes in the system demanded by the business community and ease their reservations.

Talking to the business community, the veteran business leader said that Chairman FBR has decided to install TTS in the tobacco, beverages, sugar, fertiliser, and cement industry while expanding to other sectors after success in the first phase.

He said that TTS would be working for cigarette manufacturers in the provinces and AJK to boost around Rs 130 billion in 2021.

The business leader said that the sugar industry also opposes this system because sugar bags are made of polypropylene. TTS stickers will not work on that; therefore, QR codes should be printed on these bags.

He said that all the factories manufacturing polypropylene bags should be asked to print QR codes on their product. At the same time, FBR should find a way to alleviate the business community’s concerns to make this move acceptable for all stakeholders.

He said that K-Electric is adding 900 megawatts to the power system by next year, providing relief to the masses and boosting industrial activity.

Steel Mills should be sold immediately and Steel Policy should be announced without any delays as construction activities are suffering from increasing prices of steel rebar.