Special Investment Facilitation Council (SIFC) has taken various steps to curb smuggling and tax evasion.
According to a report by Action and Counter Illicit Trade Alliance (ACT) Pakistan is losing trillions of rupees in taxes annually due to smuggling, tax evasion, counterfeiting and illegal trade.
To cope with these challenges, track and trace systems have been put in place to prevent smuggling of cement, tobacco, fertilizer and sugar. The track and trace system will gradually be installed in other industries as well to bring them under government supervision.
These measures are aimed at curbing illegal trading activities, increasing revenue, transparency and increasing investor confidence.
Source: Radio Pakistan