ISLAMABAD: Tax Reforms Commission (TRC), in its investigative report on the smuggled items, has revealed that the country’s economy is facing Rs 900 billion worth of losses every year due to smuggled tyres, diesel and mobile phones, among 11 different items.
According to the report, the smuggling of tyres, diesel (especially from Iran), mobile phones, clothes, auto parts, television sets, tea cigarettes and other items weigh around Rs 900 billion over the economy annually.
The smuggling of mobile phones, alone, costs the country Rs 100 billion loss, while diesel Rs 87 billion. The national exchequer has to endure losses worth Rs 17 billion due to vehicles smuggled from different countries.
The commission has recommended to the government to take strict measures to root-out smuggling from the country. The report has stressed the need for a closer collaboration between institutions, including the Federal Bureau of Revenue (FBR). The commission has also called for a better accountability of the government departments.
