ISLAMABAD: The Federal Board of Revenue (FBR) has completed the evaluation process for the grant of five-year license for an IT-based solution for electronic monitoring through a track and trace system of specified goods including tobacco, cement, sugar and fertiliser.
In a statement issued here on Tuesday, the FBR said that initially, 11 bids were received out of which only eight technically qualified.
The statement explained that technical scores were awarded on the basis of specified evaluation criteria, scores of all technically compliant bidders were displayed for all attendees to see prior to the opening of financial bids for ensuring complete transparency.
Bids were opened on February 1, which was attended by eight technically compliant bidders. The financial bids were publicly opened by the seven-member licensing committee, headed by Karamatullah Khan Chaudhry. Accordingly, cumulative scores of all qualified applicants were derived.
As a result of the above, M/s. AJCL/Authentix/MITAS was declared as the most advantageous bid on the basis of the combined highest score in accordance with the Licensing Rules 2019 and PPRA rules 2004.
FBR has stated that installation of the track and trace system in the identified sectors would prove to be a game-changer for improving revenue and curbing counterfeit products in the market.
FBR expects to start installing tax stamps on various sector products from July 2021.