IN THIS POST
- e-Stamp Papers in Pakistan
- Benefits of e-Stamp Papers
- A Step Towards Digitisation
- e-Stamp Papers in Sindh
The launch of e-stamp papers in Pakistan has been deemed a positive step towards curbing fraud and preventing property disputes stemming from the availability of backdated stamp papers in the market. In this regard, Khyber Pakhtunkhwa has become the latest province to launch the flagship e-stamping system established by Punjab Information Technology Board (PITB).
According to news reports published by leading media outlets, KP Chief Minister Mahmood Khan headed the launch and explained how the launched issuance of the e-stamp paper will protect people from fraudulent activities. The new digital system will also allow citizens to verify the authenticity of an e-stamp paper to prevent forgeries.
Although the move is commendable, this is not the first time a province has introduced e-stamp papers to facilitate its dwellers. With stamp duty being a major source of revenue for provincial governments, Punjab introduced its revolutionary e-stamp system in 2016. It not only automates the generation of stamp paper but also enables property buyers and sellers to pay their dues and receive legal documentation for real estate investment without any hassle.
e-Stamp Papers in Pakistan: A Brief Look
The e-stamping system by PITB has completely overhauled the stamp issuance process by allowing the purchase of high-value judicial and non-judicial stamp papers in Pakistan. The stamp duty, which is collected by the Board of Revenue, is calculated according to the information provided by the buyer using the built-in valuation tables. Moreover, PITB built a central database to facilitate citizens with the verification process.
The Benefits of e-Stamp Papers in Khyber Pakhtunkhwa
The newly introduced e-stamping system is projected to play a crucial role in increasing provincial revenue generation, generating approximately PKR 500 million on a yearly basis. In addition, the online issuance of stamp papers will enhance transparency and ensure accountability by minimising the involvement of fraudulent elements in the process. It has also drastically reduced the traditional procedure of stamp issuance from two to three days to only 15 minutes.
Moreover, it is worth mentioning that the authorities have added nine visible and invisible markers to the e-stamp papers to simplify the authentication process. A central database has also been established to help individuals verify the stamp papers online.
During the pilot phase, which has been started in district Nowshera, citizens will be able to purchase stamp papers valued between PKR 1,000 and PKR 25,000 through www.estamp.kp.gov.pk. Please note that required amendments have already been incorporated into the Stamp Act of 1899, in this regard.
The services offered by the new e-Stamp Citizen Portal in KP include:
- Generation of Challan Form 32-A
- Verification or printing of existing Challan Form 32-A
- Paying stamp duty Deficiency on e-stamps
- Calculating the valuation rate of land
- Verifying e-stamps
Khyber Pakhtunkhwa Takes a Step Towards Digitisation
Addressing the launch ceremony of the e-stamp paper system in Khyber Pakhtunkhwa, the chief minister said that the government is working on multiple initiatives to facilitate the citizens. He also added that the introduction of e-governance and digitisation of services will ensure greater transparency while upholding merit and guaranteeing better access to government services.
Furthermore, the CM explained the government has taken a pragmatic approach to reform each department. He said the introduction of e-payment, e-bidding, and e-tendering have already been completed while e-billing and several similar initiatives are presently being finalised.
Introduction of e-Stamp Papers in Sindh
In May 2022, the Government of Sindh also took a step towards digitisation by inaugurating an e-Stamp System, with the joint efforts of PITB, the Board of Revenue Government of Sindh, and the National Bank of Pakistan. During the ceremony, Chief Minister of Sindh Murad Ali Shah also announced the reduction in stamp duty from 2 percent to 1 percent.
The automation of stamp papers in Sindh will not only make it easier to find out the status of property documents but also allow citizens to search old or missing records and restrict duplicate registration. It is also worth mentioning the e-stamp paper system in Sindh works the same way as it does in Punjab and Khyber Pakhtunkhwa.
This brings us to the end of our blog on the introduction of e-stamp papers in Pakistan. To learn more about government initiatives promoting digitisation, please stay connected to Zameen Blog – the best real estate blog in Pakistan.
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Cover Image Credits: YouTube/ Board of Revenue Department Khyber Pakhtunkhwa
