The Pakistani federal government has devised a novel approach to suppress activity within the gray market, in association with the Special Investment Facilitation Council (SIFC). The Federal Board of Revenue and the State Bank of Pakistan have been directed to begin an offensive against unofficial channels.
Unauthorized imports from the grey market are purportedly having an impact on a number of industries, including trade, banking, and health. This impacts the profitability and market share of regional manufacturers.
The FBR is anticipated to restructure and modernize its revenue machinery in order to attract more investment. SIFC estimates that by 2029, these steps might raise the GDP growth rate from the present 9% to 18%.
