In a high-profile meeting between senior military and government officials, Pakistan reviewed reforms within the Federal Board of Revenue (FBR) and devised a national strategy to combat under-invoicing. Attended by key figures including Finance Minister Dr. Shamshad Akhtar and FBR Chairman Amjad Zubair Tiwana, the meeting disclosed a staggering $7.51 billion trade discrepancy in import-export statistics with major partners like China, Singapore, Germany, and the United Kingdom. Pakistani traders were alleged to be involved in under-invoicing imported goods, prompting a crackdown by the Customs Department, targeting smuggled goods and illegal storages.
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To address the issue, the government decided to support law enforcement agencies, particularly the Customs Intelligence Department, in taking action against smugglers. The focus shifted from small petroleum product-carrying vehicles to information-based raids on warehouses and secret illegal storages. The FBR officials highlighted a $3-4 billion trade gap with China, and efforts were underway to obtain real-time data. This revelation triggered a collaborative effort between FBR and the military to implement major tax reforms, restructure the FBR, and combat under-invoicing. The government’s commitment to providing resources for enforcement signals a determined stance against illegal trade practices, emphasizing information-driven measures for more effective results.