KARACHI: The investigation into the case of M/s HSJ Metals have progressed. MCC Hyderabad had already taken cognizance of this offence by the company and lodged FIR in March 2023.
Collector Hyderabad Jamshed Talpur and Additional Collector Dawood Pirzado proceeded the case further and the matter is adjudicated in favor of Customs. The accused are on bail. High Court of Sindh stayed the recovery proceedings initiated by the collectorate. Matter currently pending under Special Court and Appellate Tribunal.
Directorate of Intelligence and Investigation Karachi had investigated aspect of money laundering which is their jurisdiction.
Customs Intelligence detected a massive money laundering scheme involving Rs.3 billion worth of steel bars that were smuggled from Hyderabad to Karachi and used in a construction project. The scheme involved placement, mingling, layering and integration of the proceeds of crime in the economy of the country.
According to the details, M/s HSJ ICON, a steel importer, had fraudulently cleared steel bars through Hyderabad Customs Collectorate by evading duties and taxes.