FIA recovers evaded sum of Rs675 million from China-based M/s BGP (Pakistan) International |

FIA recovers evaded sum of Rs675 million from China-based M/s BGP (Pakistan) International

KARACHI: The Federal Investigation Agency (FIA) has recovered Rs675 million from M/s BGP (Pakistan) International, which the company had evaded An FIR was registered against the Chinese Oil & Gas Surveying Company M/s BGP (Pakistan) International, its Clearing Agent M/s IMT Co, Customs officials and others on the allegation of preparing/submitting fake/bogus corporate guarantee for clearance of their surveying equipments valuing Rs677 million. Two Chinese nationals were arrested  namely accused Zhong Zhongmin Country Manager and accused Li Chonhong Deputy Country Manager BGP (Pakistan) International. M/s BGP (Pakistan) International is also facing Adjudicating proceedings before Custom Authorities however got a stay order from Sindh High Court against proceedings. The Court had directed BGP Pakistan International to deposit 1.0 percent of all temporary imports as surcharge on expired corporate guarantees. An official said this recovery was a great achievement and honor for FIA team. Senior officers referred it as a trend setter and mighty big case in the history of FIA where a huge amount of Rs675 million was recovered in a short period of mere 50 days only. The subject FIR is outcome of enquiry initiated regarding fraudulent re-export of Surveying Equipments of M/s BGP (Pakistan) International, on the strength of bogus/forged documents, without paying leviable duties/taxes. The consignment was scheduled for shipment to China through the Custom Clearing Agent M/s International Moving & Trading Company (IMT Co), which was intercepted by FIA. The case was pursued by Additional Director Anti Corruption Circle Ashfaq Alam, Assistant Director Rashid Khanzada, Inspector Zahoor Bajkani  and team. It may be mentioned here Rashid Khanzada is moved from Pakistan Customs to FIA on deputation. M/s BGP (Pakistan) International is working in Pakistan since 1995 and is engaged in business with numerous Oil & Gas producing companies. M/s BGP (Pakistan) International has imported hundreds of consignments of Surveying equipment under provision of SRO-678(I) 2004 but the company didn’t complied with terms and regulations of SRO. The temporary imports are immune to levied duties & taxes subject to providing a Corporate Guarantee for each consignment whereby importing company indemnify that imported goods will be re-exported within two years (now five years) or completion of project, whichever is earlier. However M/s BGP (Pakistan) has not re-exported any temporarily imported consignment of surveying equipments so far, thus, causing serious violation of SRO-678(I) 2004. The record procured from various Customs collectorates reveals that 125 Corporate Guarantees of M/s BGP (Pakistan) International have already expired but the company did not re-exported the temporary imports, hence, the company is liable to pay all leviable duties & taxes plus surcharge. In this way, total recovery made from M/s BGP Pakistan International in the instant case stands at Rs800 million which is a result of FIA’s timely action and tactful subsequent processing of the case.
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