KARACHI: Pakistan Customs has detected sizeable evasion of government’s legitimate revenue, which M/s Reliance Petroleum Industries Pvt Ltd evaded through under-declaring the values of imported goods. However, Customs authorities came under pressure that no action be taken against the importers.
M/s Reliance Petroleum Industries imported consignments of plastic molding compound (PMC) from Saudi Arabia and got them cleared through green channel of the automated system without any clearing agent.
Subsequently, information was received that the importers were involved in clearing their consignments on suppressed/altered values by concealing LCs and actual transaction values.
The investigation into the case confirmed under-invoicing and evasion of Rs40 million. However, no case was made so far.
Companies having green channel facility try to keep their green channel status intact by hook or by crook so that their wrongdoings may continue.