THE Intelligence Bureau (IB) has done its job by submitting a comprehensive report to the government identifying different mafias that cause huge losses to the national economy. The report should serve as an eye-opener and form the basis for a comprehensive, indiscriminate and sustained action against all those involved in white-collared crimes.
The report identifies 76 transporters and 29 smugglers and facilitators besides 995 illegal and unlicensed petrol pumps involved in the smuggling/sale of Iranian oil causing a loss of Rs 225 billion annually to the national exchequer. In order to thwart currency smugglers and forex market manipulators, the IB identified 122 currency smugglers and 40 exchange companies involved in manipulation of the currency markets. The report exposes those involved in tax-evasion to the tune of Rs 240 billion in tobacco sector; 63 major tea smugglers and 29 storage sites of smuggled tea; entire chain of tyre smuggling; those involved in manipulation of supply and prices of wheat and sugar; and smugglers and hoarders of fertilizers. It is quite obvious that influential and well-connected people are involved in such activities and they mint millions overnight to become billionaires in a short span of time. Necessary data and details are always available with relevant institutions and agencies but action is not taken because of considerations other than the core interests of the country. This is the real corruption and one of the major causes behind the bleeding economy. The IB deserves credit for the hard work it did in gathering the necessary information and picking up courage to submit a factual report to the authorities concerned. It is now a test of the decision-making forums whether or not they initiate action based on the IB information as it can help address more of the economic and financial challenges of the country.
