The International Monetary Fund (IMF) has sought a report from the Ministry of Finance and FBR expressing concern over the monthly smuggling of 120,000 tonnes of petroleum products in Pakistan.
According to the IMF document, a report has been sought on the measures taken so far to curb the smuggling of petroleum products.
The IMF has called for increasing the number and capacity of customs, agency personnel, forces at the border.
According to the document, more than 10 billion rupees are being lost in the form of customs and levies due to smuggling of petroleum products.
IMF has directed to stop the smuggling of 143 million liters of petroleum products per month in Pakistan, increasing the smuggling of petroleum products will result in revenue shortfall due to reduction in import bill.
The IMF has expressed concern and said that if smuggling is not stopped, the revenue shortfall is likely to increase.
IMF has also directed the FBR and Finance Ministry to take measures to increase revenue.
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