Customs Preventive lodged FIR against M/s Clover Pakistan

KARACHI: MCC Preventive Karachi has lodged an FIR against owners of M/s ZY & Co Bonded Warehouse and M/s Clover Pakistan Limited.

Collector Preventive Saquif Saeed had tasked Additional Collector Umar Shafiq to tighten the monitoring to avoid any revenue leakage. Umar Shafiq is a highly reputed officer and considered a corruption sweeper in the Department.

Information was received to the effect that M/s. Clover Pakistan Limited with the connivance of M/s ZY & Co have illegally removed don-duty paid Vinyl Acetate Monomer (VAM) from Bonded Oil Tank. A team headed by of Additional Collector reached at the Bond premises of M/s. Z Y & CO. Ghularn Shoaib the owner of M/s. ZY & CO Bonded Warehouse was available at the premises along with his staff and manager Umair Sabir.

On scrutiny of the stock record of Tank No.10 & 11 containing imported Vinyl Acetate Monomer, it was known that a large quantity of approximately 500 tons was illegally removed. The team also examined the gate record maintained in the terminal pertaining to the inward-outward movement of goods.

During which it was revealed that M/s Clover Pakistan imported 997.7 tons of this product. Whereas, the importer filed two ex-bond GDs covering 400 tons of the products. However, during the physical quantity verification process, the quantity available was found as 98 tons only.

The management and staff of the bonded terminal could not provide a plausible justification for the missing quantity in the warehouse. It was known that M/s ZY & Co Bonded Terminal were allowing deliveries of the product against which no duty and taxes were paid.

The total quantity removed from the warehouse illegally was calculated as approximately 500 tons worth Rs67.2 million involving duty/tax of Rs17.4 million.

An FIR is lodged and investigations are underway.

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