KARACHI: Special Assistant to the Prime Minister for Maritime Affairs Mahmood Moulvi on Monday stressed the need to curb “under-invoicing” in fisheries exports, saying that a minimum export price must be imposed in a systematic manner.
The Special Assistant made these remarks during a meeting with Muslim Mohammadi, Chairman, Pakistan Fisheries Exporters Association in Karachi.
“Under-invoicing in fisheries exports was unacceptable. Pakistan was facing difficulties in meeting its export and tax collection targets due to the scam,” Mahmood Moulvi reiterated.
He further said that Pakistan could not afford under-invoicing and illegal transfer of money through “Hawala, Hundi”, which was against the action plan of the Financial Action Task Force (FATF), adding that fishermen’s exporters were committing money laundering through under-invoicing.
“If under-invoicing will not be curbed within 15 days, the government will take action and revoke the Under-Value Export Permit,” the special assistant concluded.