ISLAMABAD: Many countries, including Pakistan, are facing huge losses as a result of illegal trade in Asia, but experts believe that Pakistan is the most affected country, whose economy faces a loss of thousands of billions annually.
In one of its statements, the Pakistan Business Council (PBC) said that the total volume of illegal trade in Pakistan is more or less 10% of our documented and undocumented economy, which causes a loss of 8000 billion annually.
Criminals fund the illegal trade because it gives them protection. During this time, the country’s economy is harmed through other means including under-invoicing, workers’ remittances, and handi referrals. Women, children, and laborers are exploited.
The facts to be noted here are that illegal trade mostly includes elements like wildlife trade, drug trade, and human trafficking, which makes legal action against this type of trade all the more necessary.
Experts believe that the law enforcement agencies, the judiciary, and the legislature have to simultaneously play their full role in dealing with illegal trade in Pakistan so that the IMF’s grip does not get tighter with time.
