KARACHI: Directorate Customs Post Clearance Audit South has revealed a fraud worth crores of rupees in export finance scheme in an action.
A big fraud of M/s Hamza Corporation Karachi was exposed. According to Director Customs PCA Shiraz Ahmed, the misuse of EFS, Manufacturing Bond and DTRE facility has been revealed, in which 12.5 million rupees in taxes and duties have been stolen from the company.
He said that in the audit, discrepancies were revealed in the preliminary examination in terms of customs, sales tax and income tax. Physical inspection of the factory premises was also conducted in the audit. Taking advantage of the concessions, the said company evaded duties and taxes. It was also revealed that the importer sold the goods in the local market. The audit team found that the unit did not have any facilities related to spinning, weaving, dyeing, printing, sewing. Only yarn-making machines were found installed.
According to the audit team, a case of financial fraud under section 32 has been registered against the accused. Teams have been formed to arrest the absconding accused.
