KARACHI: Regional Directorate of Customs Intelligence (I&I) has detected fraudulent scheme involving the import of artificial leather worth Rs220 million.
Sources told Customs Today that information was passed through Director General Faiz Ahmed Chadhar to Director Customs I&I Engr Habib Ahmed regarding the clearing agency M/s Ayyaz Enterprises being involved the importation of artificial leather under the guise of non-existent companies purportedly for the production of export goods.
Additional Director Inamullah Wazir pursued the case, during investigations it was revealed that the goods were being sold illegally in domestic market.
The elaborate ruse included fictitious entities such as M/s Awami Textile, M/s Faraz Enterprises, and M/s Pak Asia, which were found to have no physical presence and were merely paper companies.
These companies were allegedly created to exploit the Export Facilitation Scheme, a government initiative aimed at boosting exports, to evade duty and taxes.
M/s Ayyaz Enterprises is accused of importing artificial leather worth Rs220 million, evading worth Rs110 million, and subsequently selling the material in the black market.
A shipment worth Rs16 million, which evaded Rs8.6 million in duties and taxes, was detained at KICT West Wharf, Karachi port.
The Directorate has filed an FIR against both the clearing agent and the forged companies involved in the importation.
