Islamabad, The Special Investment Facilitation Council (SIFC) has introduced a series of steps aimed at tackling the issues of smuggling and tax evasion, sectors where Pakistan reportedly loses trillions of rupees annually. These initiatives include the implementation of track and trace systems in key industries.

According to Ministry of Information and Broadcasting, a report by the Action and Counter Illicit Trade Alliance (ACT) highlights the extensive financial losses incurred due to illicit trade activities, including smuggling, tax evasion, and counterfeiting. In response, SIFC’s new track and trace systems have been established for the cement, tobacco, fertilizer, and sugar industries, with plans to extend these measures to other sectors to enhance oversight and regulatory compliance.

These efforts are designed to increase government revenue, enhance transparency, and boost investor confidence by ensuring a more regulated and monitored trade environment.