FBR, LUMS Sign MoU On Machine Learning & Data Analytics

The Federal Board of Revenue (FBR) and the Technology for People Initiative (TPI) of Lahore University of Management Sciences (LUMS) on Monday signed a memorandum of understanding (MoU) to explore future collaboration in the use of machine learning and data analytics

ISLAMABAD, (UrduPoint / Pakistan Point News - 9th Sep, 2024) The Federal Board of Revenue (FBR) and the Technology for People Initiative (TPI) of Lahore University of Management Sciences (LUMS) on Monday signed a memorandum of understanding (MoU) to explore future collaboration in the use of machine learning and data analytics.

The ceremony was witnessed by Chairman FBR Rashid Mahmood Langrial, along with other senior officials from FBR and LUMS, said a news release.

On behalf of FBR, Member Customs (Operations) Muhammad Junaid Jalil Khan and on behalf of LUMS Director of TPI-LUMS Dr. Muhammad Fareed Zaffar signed the MoU.

The collaboration between Customs and TPI is aimed at enhancing efficacy of Customs Risk Management System to facilitate cross border trade.

This will help minimize human interface while ensuring improved regulatory compliances including yield of due revenues by enabling Customs to control mis-invoicing.

This collaboration will also extend to the design of National Targeting Centre (NTC) aimed at profiling and targeting of persons, entities and conveyances which are involved in the movement of illicit goods.

NTC is an ICT based platform used globally for information sharing and targeting by Customs and other agencies.

The Chairman FBR emphasized on closer collaboration between public sector organizations and academia for transfer of knowledge and developing indigenous solutions.

The TPI aims to bridge the gap between academics and the public sector to stimulate a culture of research and evidence-based policymaking and provide citizens and policymakers with open access to data and research to improve transparency and accountability.

Pakistan Customs is expected to capitalize on the vast experience of TPI-LUMS which is providing custom made technological solutions to public sector organization on pro-bono basis leveraging machine learning and data analytics.