Imports of six smuggling-prone goods surge 55pc

[Morpheus]

Imports of six smuggling-prone goods surge 55pc

By Monitoring Report

The quantum of smuggled goods into the country decreased during the first seven months of FY21 as compared to the corresponding period last year, according to data of the Pakistan Customs which showed a higher collection of duties and taxes.
Formal imports of six smuggling-prone commodities — green tea, black tea, tyres, textile products, electronic goods and palm oil — increased by over 55.51 per cent, the latest data showed.

Official data compiled by the Pakistan Customs showed that the import value of the six commodities jumped 55.51pc to Rs659.930 billion during July-January FY21 from Rs424.354bn last year.

The duty and taxes collection from these commodities also grew 40.19pc to Rs194.813bn in 7MFY21 from Rs138.956bn last year.
Also, the import value of these products under the ATT declined 51.15pc to Rs146.160bn during the period under review from Rs299.208bn last year.

The manufacturing data released by the Pakistan Bureau of Statistics (PBS) showed production of most products except motor tyres failed to record positive growth indicating that the demand is being met through imports. Meanwhile, data on smuggling of petroleum products and auto parts is not available.

Imports of six smuggling-prone goods surge 55pc

The quantum of smuggled goods into the country decreased during the first seven months of FY21 as compared to the corresponding period last year, according to data of the Pakistan Customs which showed

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[Samlee]

This Is Actually A Good Sign.The Fact That Imports That Were Erstwhile Smuggled Now Come Through Formal Channels

Also This Shows That The Size Of Domestic Market in Pakistan.With Right Policies These Imports Can Be Substituted