The losses estimated by the Policy Research Institute of Market Economy (PRIME) in its report titled "Combatting Illicit Trade in Pakistan" are equal to 26 per cent of this fiscal year's annual tax target, reported The Express Tribune newspaper.
Pakistan is losing Rs 3.4 trillion, including a nearly 30 per cent loss because of misuse of the Afghan Transit Trade facility due to illicit trade, according to a report.
It underlined that the illicit trade has emerged as a critical challenge for Pakistan's economy, undermining formal businesses, eroding government revenues, and jeopardising consumer safety.
The story "Pakistan losing Rs 3.4 trn due to misuse of Afghan Transit Trade facility" has 551 words across 23 sentences, which will take approximately 3 - 5 minutes for the average person to read.
Which news outlet covered this story?
The story "Pakistan losing Rs 3.4 trn due to misuse of Afghan Transit Trade facility" was covered 19 hours ago by Business Standard, a news publisher based in India.
How trustworthy is 'Business Standard' news outlet?
Business Standard is a fully independent (privately-owned) news outlet established in 1975 that covers mostly business and finance news.
The outlet is headquartered in India and publishes an average of 123 news stories per day.
It's most recent story was published 2 hours ago.
What do people currently think of this news story?
The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.
How do I report this news for inaccuracy?
You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.
