KARACHI: The black money mainly involved in stock exchanges, benami and under-valued transactions of real estate, kick backs, plundering of public money/resources and other illegal activities, Ramazan Bhatti commission report stated.
The estimates of total volume of smuggling are not available. However, it can be safely assumed that a major chunk over 6 percent of merchandize imported by Afghanistan is meant for re-export / smuggling into Pakistan, the report said.
Most of the goods brought in transit to Afghanistan either through Pakistan or Iran have no consumption in Afghanistan.
The latest example is clearance of 52,000 vehicles smuggled from Afghanistan under the Amnesty Scheme allowed for a period of only one month. Similarly Iranian goods i.e. Petroleum products, plastic materials, fabrics, carpets etc. are frequently smuggled.
The UAE is the main source of smuggling of liquor in fishing boats / trawlers and launches etc. besides the transfer of liquor from the ships in the high seas to small boats for satisfying the thirst of Pakistani bootleggers. Gutka and livestock besides silk saries are smuggled from India.
The total volume of smuggled items is estimated to be over $5 billion. Most of the smuggled items are either banned for import or subject to higher rates of taxes with cumulative effect of over 50 percent. The revenues loss is thus estimated to be over Rs200 billion.