The fast growing government-backed Sindh Bank is likely to be introduced with the bank-portal based on automation system developed by the Sindh Revenue Board (SRB), a body responsible for collecting sales tax on services, Pakistan Today has learnt.
Presently, the SRB is being provided with the technical assistance from the Pakistan Revenue Automation Limited (PRAL) for collecting sales tax on services. All 42 authorized branches of National Bank of Pakistan (NBP) are using PRAL’s system and the Board would extend contract with PRAL shortly for the new Fiscal Year 2012-13, sources told Pakistan Today. The experts of the information technology (IT) have worked out its own automation system that included bank-portal at par with PRAL in the first week of June 2012. Former Chairman SRB Nazar Hussein Mehar had also announced creation of SRB’s own automation system during the conference titled “Sales Tax on Services–Lessons learnt and way forward” held at a local hotel on May 9, 2012, they said.
SRB had to introduce its own system from new FY-13 but it could not do this due to some technical reasons; so now SRB is likely to introduce its own system in Sindh Bank, the sources said.
SRB and Sindh Bank are likely to reach an agreement very soon for authorization of some bank-branches in various areas of the province. This initiative had been taken by the head of Sindh Bank who visited SRB head-office in order to make an agreement for authorization of some bank branches, sources added.
