An annual loss of one billion dollars to the exchequer due to smuggling of petroleum products

Due to the smuggling of POL products, the country has been exposed to a loss of one billion dollars annually.

About 10 million liters of petroleum products are smuggled daily through land and sea routes, which constitutes 20 percent of Pakistan’s annual consumption.

Deregulation of petrol and diesel prices is speeding up

In a letter written by OCAC (Oil Companies Advisory Council) to Chairman OGRA, it has been said that the increase in smuggling of POL products has posed a serious threat to the country’s oil industry.

It is also jeopardizing the collection of government revenue on the legitimate sale of high-speed diesel and MS (motor spirit) in the country, the letter said.

Imports of petroleum products recorded a 60% increase during July

OCAC has warned that without taking strict and timely measures, smuggling of petroleum products may increase.