KARACHI: The Special Court of Customs Taxation and Anti-Smuggling has rejected the plea of a suspect, who has been behind the bars for his alleged involvement in Rs 35 billion gold smuggling scam, for reduction in the surety amount.
Earlier on August 5, 2015 Judge Syed Faiz Rasool Rashidi had approved the bail for Muhammad Shakeel with surety of Rs 2 million on the ground of statutory delay.
Advocate Zakir Laghari filed an application on behalf of the accused, requesting the court to reduce the surety amount as his client could not arrange this huge amount.
The FIA authorities had arrested the accused on June 2, 2014, for giving his authorisation to the export of gold on fake customs clearance documents, which caused huge loss to the national exchequer.
The FIA Corporate Crime Circle had registered an FIR under Section 156(1)(8), 32/32-A punishable under Section 156(1)(14) of Customs Act 1969.
In the FIR, it was stated that in pursuance of the inquiry No 3/2014 it was established accused Muhammad Shakeel, the deputy director the Trade Development Authority of Pakistan, Karachi, registered the firms M/S Rayyan Collection, M/S Atta Casting, M/S Ather Jewellers and M/S Al Huda Bangles as exporters under Section 3 of the SRO 266(1)2001 dated May 7, 2001, issued by the federal government for exporting gold jewellery, silver jewellery, precious/semi-precious stones and platinum jewellery without fulfilling the mandatory formalities.
Shakeel in connivance with the accused proprietors issued authorisations to export 23-carat gold to UAE on fake E-forms, causing Rs 35 billion loss to the national exchequer.
