Karachi: Directorate of Post Clearance Audit South Karachi of Pakistan Customs has registered another case against M/s Eastern Metal for misusing the facility of Export Facilitation Scheme and evading duties and taxes worth Rs.358 million.
Director PCA South Karachi Shiraz Ahmed told Express that in the year 2023, M/s Eastern Metal will sell 67 lakh 54 thousand kg of iron and meltable scrap, motor scrap, aluminum scrap, cable scrap, copper cable scrap, worth more than 2 billion. 197 consignments of aluminum sheet scrap, used electric motor, blast scrap, pump scrap, power tool scrap and other scraps were imported under the Export Facilitation Scheme by obtaining duty and tax exemption facility.
He said that during the post-customs clearance audit of the importing company, it was pointed out that according to the manufacturing record of the importer, only 25 lakh kilograms of the imported scrap was used in the manufacture of export consignments, while 29 lakh 72 thousand were used. Kg of scrap sold in local market.
read more: Misuse of export facilitation scheme, 1.4 billion tax evasion revealed
Director PCA said that after this revelation, Directorate of Post Clearance Audit sought the required details from Hafiz Muhammad Shehzad, owner of M/s Eastern Metal, but he failed to submit the relevant import records while raw material imports, factory A clear contradiction was also found between the production and various business aspects, besides the number of workers in the factory is very less which is not compatible with the production volume of the factory, which confirms that the owner of the company, Hafiz Muhammad Shahzad. Deliberately evading duties and taxes by getting incentives through Export Facilitation Scheme.
The Directorate of Post Clearance Audit has widened the scope of the investigation to bring the other accused involved to justice by registering a case against the owner of M/s Eastern Metal, Hafiz Muhammad Shahzad in the light of the facts of the audit.
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