KARACHI: Customs Post Clearance Audit (PCA) South region has detected tax evasion scandal involving M/s Eastern Steel Karachi. The company imported goods worth Rs2 billion by misusing Export Facilitation Scheme (EFS), enabling the company to evade taxes of Rs358 million.
During scrutiny of import data, the probe led to the discovery that 2,961 metric tons of exempt assorted scrap goods had been stealthily removed and sold in clear violation of the tax regulations.
In light of these findings, an FIR has been registered, marking the start s investigation to bring the accused individual to book. This development is part of FBR’s unwavering commitment to uphold justice and financial integrity.
The exemplary crackdown on M/s Eastern Steel was orchestrated under DG PCA Chaudhary Zulfiqar Ali and Director PCA South, Sheeraz Ahmed. Their teams’ tenacity and insight were paramount in unraveling the multi-million rupee fraud. By taking this stern action, the PCA has reinforced its stance against economic malfeasance and issued a resounding deterrent to those entertaining similar illicit ambitions.
Director General Post Clearance Audit (PCA) Chaudary Zulfiqar Ali and Director PCA North, Samiul Haq, dedicated teams have played a vital role in detecting this fraudulent scam. With special teams mobilized and the investigations accelerating, the FBR is determined to bring all culprits to justice. Their efforts are aimed at eradicating such fraudulent activities, safeguarding the nation’s economic well-being, and sending a strong message to potential wrongdoers.
