Pakistan Economy Crisis: A sensitive report by Pakistan’s Intelligence Bureau (IB) has revealed how smuggling, tax evasion, drug trade, illegal currency trading and abuses of Afghan transit trade are hurting the country’s already struggling economy. Is. This information has been given in a media report.
Pakistani news The News International reported on Thursday (September 14) that the detailed report submitted to the government also highlights what the agency is doing to stop economic terrorism that threatens Pakistan.
IB report important for Pakistani government
This IB report becomes important for the Pakistani government because at the beginning of the month, Army Chief General Asim Munir, hinting at the important role of the powerful army in Pakistan, held several meetings with the business community, in which the cash-strapped Every possible effort was promised to invite foreign investments worth billions of dollars into the country.
The meeting followed a strike by traders to protest against the rising cost of living, including high fuel and utility bills and a record decline in the Pakistani rupee against the US dollar.
Annual loss of Rs 225 billion
Pakistan’s Intelligence Bureau (IB) report mentioned that illegal supply of petroleum, oil and lubricants products from Iran alone caused an annual loss of at least Rs 225 billion to the national exchequer. It said that the sale of petroleum products illegally brought from Iran is not limited to roadside shops but is now being sold at regular petrol pumps across Pakistan.
The report said that as a result of the volatility in the stock market and the imposition of capital gains tax in the real estate and capital markets, black money investors diverted their capital to foreign currencies to take advantage of the devaluation of the exchange rate.
2.6 billion Pakistani rupees recovered
Pakistan’s Intelligence Bureau (IB) also monitored the entire supply chain and identified stakeholders and their nefarious role in hoarding wheat and sugar as well as disrupting the supply chain.
The report said that people were also identified who were hoarding fertilizers being smuggled into Afghanistan. The IB action resulted in the recovery of 47,222 metric tons of fertilizer worth Pakistani rupees 2.6 billion, the report said.
Also read: You should read the order given by Nepali Supreme Court to Prachanda government on border dispute with India.
This post originally appeared on www.abplive.com