Smuggling Drains Pakistan's Economy by $23 Billion Annually

Black market and smuggling activities cost Pakistan's economy $23 billion annually, draining foreign currency reserves.

Key smuggling activities include black market currency trade, oil smuggling from Iran, and gold smuggling.

Smuggling destabilizes exchange rates, fuels inflation, erodes confidence in financial systems, and reduces government revenue.

Tighter border controls and advanced surveillance needed to curb smuggling of physical goods like dollars, oil, and gold.

Import bans intended to support local industry have fueled shadow economy and smuggling workarounds.