PITB’s e-Stamping Project’s One Day record Revenue Collection Rs. 361.459 million exceeds Project Cost


PITB’s e-Stamping Project’s One Day record Revenue Collection Rs. 361.459 million exceeds Project Cost
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June 28, 2018

The flagship project e-Stamping of Punjab Information Technology Board (PITB) has set a new record by revenue collection worth Rs. 361.459 million in one day, today, which is in excess of the total cost of the project i.e. Rs. 342.062 million while since launch of the project the revenue generated through issuance of 3.0 million electronic stamp papers in the entire province has touched Rs. 80. 56 billion figure, which speaks volumes regarding the acceptability among the masses. This was informed in the project progress review meeting held here today under the Chairman PITB Dr. Umar Saif here today.
Dr. Umar Saif lauded the efforts of the e-Stamping team and said that through the automation of revenue sector, the technology was significantly contributing to the national economy. The technological innovations in the economic sector would eliminate the chances of corruption, forgery and fiscal pilferage, he added. Imagine the success of a project when its revenue collection of just one day exceeds its total cost.
e-Stamping system is a joint project of PITB and Board of Revenue Punjab which has totally revamped the stamp duty collection process in the province. Uptill now over Rs 80.56 billion revenue has been collected and over 3.0 million electronic stamp papers have been issued.