Islamabad: The Federal Board of Revenue (FBR) has investigated this case and uncovered that two large companies were inflating the cost of solar panels imported from China by Rs69.5 Billion
FBR recently highlighted a shocking money laundering case involving big companies in solar panel imports in its report, which was submitted on 26 August.
Details of Money Laundering Case:
These two companies used fake invoices to show higher costs than what they actually paid. Then, they transferred the remaining Rs. 72.83 billion to the bank accounts of Singapore and UAE.
Further investigation revealed that these company’s offices in peshawar, listed in the same building, were non existing with fake addresses. These companies managed to transfer Rs. 20.6 Billion successfully secretly. The FBR filed a case against them with proper proper proof and evidence.
While investing in solar panel imports, another case of money laundering was noticed. Another solar panel scam was discovered in Ahmedpur Sial, Jhang. Here, local people and businesses lost between 2 and 2.5 Billion, with the estimated loss amount in Punjab being 14 to 15 Billion. The trader in Punjab took advance payments from clients but did not deliver any product. When the main suspect disappeared, many people were worried about their payment and undelivered products.
The business owners and local people are facing many financial issues and are calling on the Punjab Chief Minister to take urgent notice of this case. They want a high-level investigation to arrest the main suspect behind this scam and recover their money.
