ISLAMABAD: International Monetary Fund (IMF) has sought report from Pakistan on smuggling of petroleum products. According to media reports IMF has expressed concern over smuggling of 120,000 tonnes petroleum products monthly.

According to FBR sources IMF has sought report from Ministry of Finance and FBR on smuggling of petroleum products. Report on steps taken so for to curb this smuggling has also been summoned.

Sources said that smuggling is causing loss of over Rs 10 billion under head of Customs and Levy.

IMF has demanded that smuggling of 143 million litres petroleum products per month be stopped. There will be revenue short fall due to decrease in imports bill in face of rise in smuggling of petroleum products.

IMF has directed FBR and Ministry of Finance to take steps to enhance revenue. Earlier IMF had sought written agreement from Ministry of Finance on tough conditionalities to provide relief in electricity bills.

Published in The Daily National Courier, September, 20 2023

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