FBR detects illegal import of smartphones worth $7.19m

Mobile phones worth $7.19 million have been imported illegally without opening the letters of credit (LCs) or utilising the banking channel, disclosed a report of the Federal Board of Revenue (FBR) on Saturday. A senior official of FBR said despite an unannounced ban on the import of mobile phones and their accessories by the State Bank of Pakistan (SBP), 52 Goods Declarations (GDs) worth $8.65m related to the import of mobile phones had been cleared between December 2022 and February, adding that these mobile phones have been imported in Completely Build Up (CBU) condition. The FBR highlighted that only $1.46m was paid legally out of Pakistan through the banking channel. Whereas $7.19m flowed out of Pakistan illegally, however, the tax collecting body has not mentioned the mode of payments made to the suppliers in Dubai for the import of mobile phones. Responding to a query about how could the FBR determine the amount repatriated illegally to the UAE, the official said the figures had been matched from the GDs and the quantity of IMEI number registration applications, which was also awarded by the FBR.