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Tuesday, July 16, 2024

KP Govt launches E Stamp paper system to stop fraud

Khyber Pakhtunkhwa (KP) government has launched E-stamp paper which would stop the selling of bogus stamp paper and fraud. KP CM Mahmood Khan launched the E-stamp paper in the province and said this would stop the issuance of stamp papers on older dates.

With a new ICT project, the government of Khyber Pakhtunkhwa (KP) is one step closer to putting an end to fraudulent stamp papers and related fraud. In order to avoid using out-of-date stamp papers, the state has implemented an E-stamp paper system.

The launch was headed by KP Chief Minister (CM) Mahmood Khan who said that this initiative should help resolve a variety of issues with stamp papers. He said that it would help resolve property disputes and people will also be able to verify them online to prevent fraud and forgery.

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To use these E-stamp papers, you only need to have a working internet connection. If you want to purchase high-value non-judicial or judicial stamp papers, you will only need to provide data regarding the reason you want to acquire them. You will also need to provide your name, the seller’s name, the person whom the stamp papers will be purchased from, and their CNIC numbers.

The new system will automatically calculate the value of the stamp paper you need. The process only takes around 15 minutes to complete before you get your E-stamp paper.

E-stamp in Sindh

In May of this year, Sindh inaugurated a similar E-stamp system. It was started as a result of PITB, the Board of Revenue Government of Sindh, and the National Bank of Pakistan working together (NBP).

Syed Murad Ali Shah, the chief minister of Sindh, opened the function at the CM House. The Chief Secretary, a senior member of the Board of Revenue, the President of the National Bank, and the Revenue Minister Makhdoom Mehboob were among those present.

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CM Murad Ali Shah also took the opportunity to announce that the stamp duty has been reduced from 2% to 1%.

The E-stamp system in Sindh works the same way as it does in KP.