Major discrepancies have reportedly emerged in the trade statistics of Pakistan and Iran, primarily related to the export of rice from Pakistan.
Sources told ProPakistani that Iranian Customs has shared with Pakistan’s commerce ministry that it imported rice worth approximately $700 million from March 2022 to March 2023 from the Zahedan border. However, the data maintained by the Federal Board of Revenue (FBR) does not depict the same.
Sources said that the commerce ministry, showing great concern, communicated to the FBR chairman to look into this variation in trade data provided by Customs authorities of both countries and take appropriate corrective measures for proper record of exports and subsequent receipt of export proceeds.
Sources said that Pakistan exported rice worth $2.4 billion to different countries in the fiscal year 2022-23 (FY23). Pakistan and Iran cannot officially engage in trade due to US sanctions but sources said that there is no bar on bilateral trade related to food items and medicines.
Recently, the Pakistan Business Council had written to the finance minister, revealing that Pakistani traders reported imports from China, Singapore, Germany, and the United Kingdom at nearly $19 billion in the calendar year 2022. However, the four trading partners reported exports of $26.3 billion to Pakistan in the same year, indicating a disparity of $7.5 billion.
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Fraud and tax evasion are our national traits.
Major part of import disparity of $7.5b circumvent via UAE alone, by re-invoicing (to blatant under-invoicing) thru proxy UAE freezone registered re-export companies. (Are all actually the same, thriving pak-origin importers).
Look at the sea of invoices comprising about 50% half imports from UAE alone. Pakistani banks should already have the data of UAE imports.
Ban imports from UAE.
Criminal negligence of authorities on this matter is stabbing Pakistan’s bleeding economy for last 4 decades.
The country’s foremost enemy is its own citizens then any one else to blame.
Jobs
koi smuggle karta hai, koi under invoice karta hai, to phir FBR say pouchy kay genuine importer kaisay kam kray….
FBR apnay writ uniformly qaim hai nahi kar sakta agar custom duty 20 say 30% ho.
Tarqi yafta qomoy ki thra, Pakistan may bhi duty 2 say 5% kay beech main hoani chahiya.