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The Customs Department has uncovered a significant financial fraud and money laundering operation within the Export Finance Scheme (EFS), involving millions in tax evasion and illicit transactions.
According to a report by Pak Observer on Tuesday, a post-customs clearance audit revealed that Fazal Rabi Enterprises engaged in fraudulent activities, siphoning substantial sums from the national treasury.
Deputy Director Shiraz Ahmed stated that the company used fake addresses in Karachi and Hub, where it had no actual operations. Investigations further uncovered a fraudulent National Tax Number (NTN) and bogus registration details.
Despite providing false information, the company fraudulently obtained EFS facilities from the Gwadar Customs Collectorate. Customs data showed the entity, operating under a fake profile, never conducted exports despite securing permissions. Instead, it illegally imported goods worth Rs208 million, evading Rs140 million in taxes and duties.
Investigators also discovered that Rs208 million in illicit funds were transferred abroad, adding to the gravity of the case. The Customs Department has launched strict actions and continues its investigation.
