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ISLAMABAD: The Federal Board of Revenue (FBR) has issued a press release, wherein, it has been stated that considerable progress has been witnessed in the value of seized smuggled goods in the ongoing current financial year.

Smuggled goods valuing Rs29 billion have been seized in the current year from July to December, 2020 showing 37 percent increase in comparison with the seized smuggled goods of previous year in the corresponding months valuing Rs21 billion.

Similarly, duty drawback of Rs5 billion has been paid from July to December, 2020. Pakistan Customs has intensified the countrywide operations against the transportation and marketing of smuggled goods, which has lessened the negative impact of smuggling on the economy. Moreover, these operations against smuggled goods have safeguarded the interests of the local traders who are engaged in lawful trade.-PR

Copyright Business Recorder, 2020