ISLAMABAD: The Directorate General Customs Intelligence and Investigation, Islamabad, has successfully seized 8,385 kgs smuggled tea during an operation in different parts of the country during May 2015.
It is important to mention here that tax-evaded on one in every three cups of tea consumed in the country and illicit trade not only benefits smugglers with higher profit margins against legitimate brands but also costs the national exchequer more than Rs 8.7 billion or $84 million a year in tax revenues.
Being one of the world’s largest importer and consumer of tea, Pakistan is a big market for tea traders. The country’s estimated total consumption stands at approximately $610 million. In what can be described as a major strain on the cash-strapped economy and the profits of legal brands, illicit tea business accounts for more than a third, half by some estimates, of the total market.
