Punjab Information Technology Board (PITB) on Tuesday revealed that the e-Pay Punjab has successfully managed to collect an impressive amount of PKR 22.9 billion through more than 5 million transactions in the past 18 months. The revenue was obtained as online payments of 19 different Taxes for 8 distinct departments. The board further proclaimed that of the amount collected, PKR 5 billion was collected as Token Tax.
This remarkable accomplishment of e-Pay Punjab was achieved by 5,000,000 million transactions in a span of 18 months.
Previously, e-Pay Punjab surpassed 4.3 million transactions and secured PKR 20 billion in tax revenue while being acclaimed as a game-changer by the PITB the previous month. It had also proclaimed that more than PKR 1.82 billion was generated in tax revenues from the nationals in August 2020.
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E-pay was launched in 2019, as Pakistan’s first-ever digital aggregator for Public to Government (P2G) and Business to Government (B2G) payments, enabling users to clear their respective dues using four payment channels, i.e., mobile banking, internet banking, ATM, OTC (Over the Counter) banking transactions. The project earned traction last year when the global pandemic, COVID-19 was touching its heights, and the government urged the citizens to utilize the means of electronic payments.
Punjab IT Board (PITB) developed this solution under the Finance Department of Punjab’s directions and supervision. At the backend, it is integrated with the State Bank of Pakistan (SBP) and 1-link to serve the purpose of interconnectivity across the complete banking network operated in Pakistan.
To pay the tax dues, an individual needs to access the e-Pay Punjab application or website to produce a 17-digit PSID number which is different for each transaction and can be finally be used on the above-mentioned four payment channels, i.e., Mobile Banking, Internet Banking, ATM, or OTC by the citizens to pay the tax dues.