Pink paper pilferage (5)
I believe the answer is:
theft
'pilferage' is the definition.
(I've seen this before)
'pink paper' is the wordplay.
'pink' becomes 'the' (I can't justify this - if you can you should believe this answer much more).
'paper' becomes 'FT' (newspaper the FT, Financial Times).
'the'+'ft'='THEFT'
Can you help me to learn more?
(Other definitions for theft that I've seen before include "Act of larceny" , "Taking offence?" , "Taking of another's property" , "Act of stealing" , "Job" .)