|
Getting your Trinity Audio player ready...
|
Get the latest Pakistan news updates on our WhatsApp channel by joining us today!
A staggering Rs 69.5 billion money laundering scam has been exposed in the solar panel import sector, according to a recent report by the Federal Board of Revenue (FBR). The report reveals widespread over-invoicing and fraudulent activities involving 63 importers between 2017 and 2022.
Read Also: Apni Chhat Apna Ghar Program: Affordable Housing Initiative in Punjab
Key Findings:
– Rs 72.83 billion transferred out of Pakistan by two major companies
– FIR registered against the companies for suspected money laundering
– Companies sold solar panels worth Rs 72.83 billion for Rs 45.61 billion, indicating significant over-invoicing
– Investigative team finds no trace of companies’ offices in Peshawar
– Income tax records reveal companies were fake, transferring Rs 20.4 billion out of Pakistan
Solar Panel Import Scam: A Growing Concern
This shocking revelation highlights the need for stricter regulations and monitoring in the solar panel import sector. Stay tuned for further updates on this developing story.