In a significant crackdown, Karachi’s Collectorate of Customs Exports, led by Collector Irfan Javed, uncovered a major tax evasion scheme involving M/s. A.K. Brothers. Acting on credible information, Deputy Director Wasif Malik initiated an investigation into the company, located at Plot No. WH-9, Sector 16-B, Karachi Industrial Area.
M/s. A.K. Brothers had been allotted an Export Facilitation Scheme (EFS) quota for importing duty and tax-free input goods, including various types of textile fabrics, under Rule 878(1) of SRO 957(1)/2021. However, data revealed that while the company imported goods worth Rs. 1,416.174 million, their exports were nil.
A raid conducted on September 9, 2024, by a team from the Collectorate, found that the duty and tax-free goods, valued at Rs. 1,416.174 million and involving duties and taxes amounting to Rs. 642.488 million, were missing from the premises, indicating illegal removal in violation of Rule 880(1) of SRO 957(1)/2021.
An FIR has been lodged with the Special Judge Customs & Taxation, Karachi. The proprietor, Asif Inam, was arrested at Jinnah International Airport on September 21, 2024. The investigation is ongoing.