KARACHI: The customs authorities have identified habitual evaders who incurred huge losses to exchequer through misdeclaration on chemical imports. An FIR has been lodged against the importer Zeeshan Trading Company and investigation has been initiated to arrest persons involved in the scam.
Model Customs Collectorate (MCC) of PaCCS retrieved the data pertaining to the imports made by Zeeshan Trading Company Karachi for the last five years and served notices upon the importers to provide the details of the transactions made by them during the period.
The importer Zeeshan Trading Company did not respond to the notice, according to the FIR. However, the documents retrieved from the system has confirmed that the importing company had established a letter of credit from a local bank for import of 57.6 metric tons ethyle acetate from CKG Chemicals, Singapore at $970/MT making the total amount of $55,872.
The importers thereafter filed goods declaration in the PaCCS by declaring the total import value of $28,800 instead of actual amount, concealing the actual invoice and presenting fake and fabricated invoice before the customs authorities.
On investigation, the bank had confirmed that letter of credit to the tune of $55,872 against the transaction.
Customs sources said that the company and its owner had been found involved in another evasion case. An FIR was lodged against the company on September 3, 2012 for evasion and incurring loss to national exchequer by misdeclaring chemical.
The sources said that in the previous case the customs court had granted remand of Zeeshan Qaiser, the owner of the company for investigation.
Customs identifies habitual evader; causing huge losses through misdeclaring chemical import
