ISLAMABAD: National Exchequer faces at least $2.6 billion revenue loss yearly due to smuggling of goods, Federal board of Revenue (FBR).
According to research report prepared by Harward Univeristy with the collaboration of FBR 11 important smuggled goods are pointed out. These items are including Cloths, Tea, Cigarettes, Tyre-tubes, Iranian diesel, Plastic crush, Electronic items, and Non duty paid vehicles, Generators and Auto parts.
Sources added that this $2.6 billion loss is only in the terms of taxes faced by the national exchequer. It is important to mention here that Directorate General Customs Intelligence and Investigation Islamabad has recovered Rs 1.7 billion from seizing different smuggled goods during July to October 2015.
During the course of anti-smuggling activities in 4 months July to October 2015 Directorate General Customs Intelligence and Investigation Islamabad has seized and recovered Rs 1.7 billion smuggled goods in different parts of the country including Rs 61.7 million of 370,023 yards cloth, 4957 kilograms smuggled tea having worth of Rs 1.3 million while 179 offending vehicles having worth of Rs 272 million were also seized during the July to October 2015 while 60,2285 liters of diesel having worth of Rs38 million were recovered and seized, electronics goods worth of Rs835 million, Rs30 million of tyres, tubes and auto parts were also seized were also seized during the anti-smuggling drives in the first 4 months of the current years 2015-16.
Moreover, 131 non duty paid vehicles worth of Rs 168 million, and other miscellaneous. Smuggled goods worth of Rs 290 million were recovered and seized, 182 bottles of Liquor having worth of 1.8 million, Rs22 million of 536,500 kilograms of Urea, 22,000 Buckets of Grease having worth of Rs6.3 million while 2066 no of smuggled blankets, and Toiletries having worth of Rs 9.0 million were also seized during anti- smuggling activities.
