FBR Losses Nothing Compared to Shortfall At Karachi Port Trust: Defence Minister

Defence Minister Khawaja Asif has alleged that the financial losses caused by corruption and mismanagement at the Karachi Port Trust (KPT) surpass even those of the Federal Board of Revenue (FBR). Speaking to a private news channel on Tuesday, the minister said the economy is losing trillions of rupees due to what he described as “rampant looting” at the port. He claimed that the scale of losses at the KPT exceeds the revenue shortfalls typically associated with the FBR. He emphasized that substantial revenue potential exists under various heads at the port, which remains untapped due to systemic issues. When asked whether these losses could be curtailed, the minister expressed hope that steps would be taken to block all such revenue leakages.