Caretaker Prime Minister Anwaarul Haq Kakar has taken notice of the smuggling of petroleum products under the garb of transit trade, reported 24NewsHD TV channel.

The prime minister has summoned a meeting in this regard later today.

PM Kakar has directed the officials of relevant ministries to give practicable suggestions to discourage smuggling during the meeting.

According to an estimate, the country is suffering Rs300 billion loss due to smuggling of transit trade and petroleum products.

Sources said most of the items imported under the transit trade are being sold in Pakistan.

The prime minister was briefed that owing to the smuggling of petroleum products, heavy financial losses are being incurred on national exchequer and oil marketing companies.

PM Kakar has summoned top officials of FBR, finance, trade and petroleum to take part in the meeting.

Reporter Awais Kiyani