The Federal Board of Revenue (FBR) has communicated a writtencorrespondence to the Director General of the Federal Investigation Agency(FIA), urging the initiation of an inquiry into potential money launderingactivities involving the upper echelons of Pakistan International Airlines(PIA).
As per official documentation available through ProPakistani, the FBR’sKarachi field office has dispatched a formal letter to the DG of FIA,focusing on the alleged mishandling of finances by the senior leadershipwithin PIA.
Additionally, the communication highlights that Pakistan InternationalAirlines (PIA) is a registered taxpayer falling under the jurisdiction ofthe Large Taxpayer Office in Karachi. It has been identified as a defaulterof Federal Excise Duty (FED), with an outstanding amount totaling Rs 8.8billion.
The missive accuses the senior management of PIA of deliberately amassingthe outstanding sum in Federal Excise Duty over a series of months. This,in turn, has raised suspicions of diverting state funds for personal gains,a claim substantiated by the consistent failure to meet payment obligations.
The communication goes on to assert that the senior leadership’s actionstantamount to misappropriation of funds, an offense that can be adjudicatedunder various sections of the Pakistan Penal Code.
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Moreover, the letter contends that the Chief Financial Officer (CFO) andthe General Manager of Accounting at PIA are implicated in the financialmisconduct. The mismanagement of funds, it asserts, has led to violationsof the Foreign Exchange Regulation Act of 1947.
In view of these findings, the FBR has formally called for an inquiry intothese alleged financial improprieties, underscoring the gravity of thesituation and the potential legal consequences for those involved.
