KARACHI: Habib Ahmed, Director of Customs Intelligence and Investigation Karachi, reiterated the government’s commitment to addressing under-invoicing issues.
Speaking at a meeting of Korangi Association of Trade and Industry (KATI), he stated that individuals involved in under-invoicing are now under scrutiny by law enforcement agencies.
The authorities are closely monitoring under-invoicing, over-invoicing, and the misuse of export facilitation schemes, with 50 cases of under-invoicing already identified and corresponding actions initiated.
The practice of under-invoicing in exports is detrimental to the national exchequer.
Habib Ahmed further emphasised the priority given to discouraging all forms of smuggling, reporting that authorities seized smuggled goods worth Rs 1.7 billion in Karachi between September and October.
President of KATI Faraz-ur-Rehman stressed the necessity of stringent action against smuggling and the immediate cessation of purchasing smuggled goods, as these illicit activities continue to undermine legitimate trade and adversely affect the nation’s economy.
He underscored the significance of abandoning the purchase of smuggled goods, emphasising that the ongoing crackdown against the smuggling of items such as diesel will not only benefit traders but also bolster the broader business community.
He called for a comprehensive approach to combat all forms of smuggling, including cross-border activities, to ensure a substantial increase in revenue in the national treasury.
Commending recent operations against smuggled goods, Faraz-ur-Rehman noted their effectiveness in curbing illegal trade practices.
During the meeting, Fawad Sheikh, Chairman of the Standing Committee, along with KATI members and other industrialists, provided insights into the challenges faced by the trade and industry community.
Copyright Business Recorder, 2023
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