International Consortium Led by Authentix, Inc. Finalizes License Agreement to Implement Major Track and Trace System in Pakistan
The license agreement covers an initial five (5) year term as well as a three (3) year extension option.
- The license agreement covers an initial five (5) year term as well as a three (3) year extension option.
- The scope of the system is to assist both domestic manufacturers and importers with the capability to apply secure and digitized tax stamps to each product of the above categories distributed in Pakistan.
- At anticipated industry product volumes, the total contract will cover an expected 6.5 billion consumer products per annum.
- This illicit trade and lack of proper production reporting causes a massive loss of tax revenue for the Pakistan state budget.