The International Monetary Fund (IMF) has expressed “concern” about theillicit transportation of petroleum products in Pakistan, sources withinthe Federal Board of Revenue have revealed. According to availableinformation, the IMF has requested a report from the finance ministry andthe FBR detailing the measures taken thus far to curtail the monthlysmuggling of 143 million liters of petroleum products.
Sources indicate that the IMF has highlighted that this illegal activity iscausing a deficit in revenue, resulting in a loss of Rs10 billion incustoms levies. The IMF has urged Pakistan to take steps to control thesmuggling of petroleum products, as per sources.
Earlier this month, Caretaker Finance Minister Shamshad Akhtar affirmed thegovernment’s commitment to fulfilling its tax collection agreement with theIMF during a press conference with caretaker federal ministers, addressingthe challenges inherited by the caretaker setup and their resolve toaddress them systematically.
