In a recent development, the Federal Investigation Authority (FIA) hasescalated its efforts in scrutinizing car showroom proprietors, as reportedby ARY News. This intensified focus by the FIA signifies a growing concernsurrounding potential money laundering activities within the automobileretail sector.
Sources have divulged that the FIA has initiated a comprehensiveinvestigation into trade-based money laundering practices involving ownersof car showrooms. To commence this inquiry, a dedicated FIA task force hascommenced its operations in the vicinity of Khalid Bin Waleed Road inKarachi. As the first step in this investigative process, notices have beenformally dispatched to four car showroom proprietors, summoning them toappear for questioning on September 26.
Notably, the FIA’s specialized investigative unit has also demanded acomprehensive record detailing all car imports made from January 1, 2021,up to the present day. Sources embedded within the FIA have hinted thatfailure on the part of car showroom owners to comply with these notices maylead to the initiation of legal actions against them.
This development follows earlier revelations concerning significantover-invoicing practices during the importation of solar panels between2017 and 2022, amounting to over Rs 69.5 billion.
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As per a report by the Federal Board of Revenue (FBR), this irregularityinvolved 6,232 Goods Declarations (GDs) submitted by 63 importers, with anastonishing Rs 72 billion transferred by two private companies, despitesolar panels valued at Rs 45 billion being the actual imports. Thesefindings underscore the gravity of financial misconduct that authoritiesare keen on addressing within various sectors of the economy.
