ISLAMABAD: The Federal Investigation Agency’s (FIA) Corporate Crime Circle in Karachi has submitted a report to the Public Accounts Committee (PAC) detailing progress in an investigation into the non-payment of fuel levy by a petroleum company between 2019 and 2022.
According to FIA’s report, that the petroleum company failed to deposit the levy on the sale of gasoline into the government treasury, with the unpaid amount reaching Rs47 billion. The complaint in the case was filed by Ashfaq Ahmed, Deputy Director at the Ministry of Energy and Petroleum.
The investigation, registered as Inquiry No 3/23, has remained under review for nearly two years. Thirteen individuals were named as accused, including company owners, members of the board of directors, two women, and a former managing director of K-Electric.
Following the investigation, the company paid an initial cash instalment of Rs1 billion, indicating its willingness to settle the total liability. For the remaining Rs46 billion, it submitted post-dated cheques along with unconditional and irrevocable bank guarantees.
Deputy Director Ayaz Meher, who heads the FIA’s Corporate Crime Circle in Karachi, confirmed that the report has been forwarded to the Public Accounts Committee.
