The caretaker government has given new targets to the Federal Board of Revenue (FBR) to curb under-invoicing and over-invoicing.
According to FBR sources, the caretaker government has decided to establish electronic data interchange with major import partners of Pakistan.
Sources say that it has been decided to enter into electronic data interchange agreements with the United Arab Emirates, Singapore, Hong Kong, and Afghanistan.
According to sources, FBR has prepared a draft memorandum of understanding for electronic data interchange, with the help of the Ministry of External Affairs, these drafts will be sent to all four countries for mutual understanding. The government is trying to sign the memorandum of understanding soon.
Sources say that an understanding with the four countries will help stop the under-invoicing of imports.
It should be noted that Pakistan has already signed an Electronic Data Interchange Agreement with China.
