Islamabad:
The Federal Income Board (FBR) has introduced the first Risk Management System (RMS) based on Pakistan’s artificial intelligence.
The development occurred in the directives of Prime Minister Shehbaz Sharif.
During a meeting chaired by the Prime Minister in the Federal Capital to review the current reform measures by the FBR, it was reported that, according to the new system, the estimate of the cost and nature of the goods during import and export will be carried out using intelligence and artificial bots.
The new risk management system, based on modern technology, will continually improve through automation using automatic learning, together with the movement of goods, the meeting was told. “During the initial tests of the new system, more than 92% improved performance was observed.”
The informative session showed that in the initial evidence, not only 83% more statements of goods (GD) was determined for tax collection, but that the authorization of goods through the green channel also increased twice and a half times.
It was reported at the meeting that the new risk management system will bring transparency to the system, minimize human intervention and provide ease to entrepreneurs. With the launch of the new system, an immediate and effective estimate of the goods and its cost will be possible, which will result in a time saving.
The meeting was also reported that the implementation of the new system will reduce pressure on customs officials, improve transparency and efficiency, and facilitate entrepreneurs.
The prime minister said that the FBR reforms were among the main priorities of the government. “By automating the fiscal system, we are making it more transparent and effective,” said the prime minister and added that the modern technology -based system will bring ease to do business and provide convenience to taxpayers.
Due to the reduction of human intervention, the Premier said that the system will be more efficient, saving as much time and money. He directed the interested authorities so that the new system is integrated and sustainable.
The prime minister appreciated the officers and personnel who worked on the development of the new risk management system.
The meeting was informed about measures based on video analysis to increase tax collection in the manufacturing sector. With this system, tax collection in these sectors will be automated and carried out transparently, which will increase government income and allow taxpayers to pay taxes without human interference.
The meeting also reported that this system is profitable and showed an efficiency of 98% during the initial tests. The meeting also reviewed the potential of an increase in fiscal income after implementation in the manufacturing sectors. Ministry of Finance Muhammad Aurengzeb, Minister of Information Attaullah Tarar, President FBR and other senior government officials attended the meeting.
