Illicit trade estimated at 20 per cent of Pakistan's formal economy: Business council

Islamabad [Pakistan], November 7 (ANI): Pakistan loses billions of dollars in tax revenue and undermines its formal sector as it suffers from one of the highest levels of illicit trade in Asia, The News International reported on Tuesday, citing a business group.

The Pakistan Business Council (PBC), a policy advocacy group representing Pakistan's largest businesses, said the combined value of smuggling, under-invoicing, mi