ISLAMABAD: Authorities have uncovered an alleged tax and petroleum levy evasion worth Rs. 6 billion, leading to the registration of a criminal case against a private oil marketing company and several of its senior officials.
According to the First Information Report (FIR), the company allegedly sold 48.6 million litres of petrol without paying the applicable taxes, customs duties, and petroleum levy, causing a massive loss to the national exchequer.
The FIR names seven individuals, including the company’s Chief Executive Officer (CEO) and the CEO of Terminal One, in connection with the alleged fraud.
Investigators claim that a major irregularity occurred in the supply of petroleum products from Port Qasim to Mahmood Kot and Faisalabad. The investigation also points to alleged corruption within the supply chain involving the transportation of fuel from a customs bonded warehouse to Faisalabad.
Authorities allege that the company bypassed mandatory tax, duty, and petroleum levy payments while distributing the fuel, resulting in an estimated revenue loss of Rs. 6 billion.
The case has been formally registered, and further investigations are underway to determine the extent of the alleged fraud and identify all those responsible.
The latest development comes amid the government’s intensified crackdown on tax evasion, petroleum smuggling, and financial irregularities in the country’s oil and energy sector.
