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 today.
The media representatives were shown e-Stamp dashboard in real time which conveyed that till today around Rs. 50,192, 726, 853 has been received in revenue by issuing 1,942,779 e-stamp papers.
e-stamp papers have witnessed a 20% increase as compared to the previous year
Currently, e-stamp papers are available for above Rs. 1000 denomination as they are used in 95% of the cases. The e-stamp papers below Rs. 1000 denomination are only used in 5% of the cases which were also being streamlined by registering “Waseeqa Navees”, which are estimated to be around 7000 in the Punjab. The government would then equip them with a mobile application.
The Chairman PITB stated that now no one could undervalue the property as DC tables were integrated with the e-Stamp system and the issuance of the stamp papers period have also been reduced from three days to 20 minutes and the system have eliminated the chances of corruption, backdated, frivolous and fraudulent practices in this regard.
Dr. Saif further stated that e-Stamp will be rolled out in Sindh within the next three months. The government has also initiated the process for payment of all taxes through mobile wallet in the Punjab in compliance with State Bank of Pakistan, National Bank of Pakistan and Bank of Punjab.
So far 5 crores 70 lakh rural properties have been digitalized and now “Gardawari” and “Massavi” are also being digitalized along with urban moveable properties, he informed.