KARACHI: Local tyre industry on Friday lauded the efforts of Pakistan Customs for starting a campaign against smuggled tyres and seizing a huge quantity of smuggled tyres worth over Rs 541 million in Karachi.

Recently, Pakistan Customs’ Enforcement section on the directives of the FBR chairman and member Customs (Operations) seized a huge quantity of smuggled tyres in Karachi.

It has been reported that the smuggled tyres after change in their specifications, serial numbers, sizes, and manufacturing dates through different embossing and alteration instruments are supplied in the local markets.

“This smuggled tyres worth millions of rupees clearly shows how the menace of smuggling is damaging the national economy and local industry,” said Hussain Kuli Khan, Chief Executive Officer of GTR Tyre.

He added that 60% tyres (with a total value of Rs 300 billion) are being smuggled into Pakistan which in turn inflicting the loss of more than Rs 50 billion to the national exchequer.

“The government should protect the local industry and national treasury from the damage caused by smuggling enroute mainly from Torkham and Chaman boarders.

“Though the FBR has improved enforcement by taking strict measures at the customs level, still a lot more effort is required. Also, it is necessary to check the stock in the markets and take action against sellers by confiscating the illegally imported tyres,” said Hussain.

The CEO of GTR Tyre reasoned that these concrete and positive steps will help in attracting new entrants to invest and provide employment.

Copyright Business Recorder, 2022