The Directorate of Customs Intelligence, Karachi has detected a fraudulent import of artificial leather worth Rs. 220 million.
According to information obtained by ProPakistani, the Directorate of Customs Intelligence, Karachi through Director General Faiz Ahmad Chadhar received credible information that the Clearing Agency M/s Ayyaz Enterprises was involved in imports of artificial leather without payment of duty and taxes in the name of fake companies including M/s Awami Textile, M/s Fraz Enterprises and M/s Pak Asia for manufacture of goods for exports but was fraudulently selling it illegally.
The investigation carried out by the Directorate of Customs Intelligence, Karachi revealed that Awami Textile, Fraz Enterprises, and Pak Asia having addresses in different parts of the country did not physically exist and that the artificial leather imported without duties & taxes for manufacture of goods for export on their names was illegally sold in the market.
These companies were fake, only existed in documents, and had been created for evasion of massive duties & taxes through misuse of the Exports Facilitation Scheme introduced by the government for the promotion of exports.
Ayyaz Enterprises have so far imported artificial leather worth Rs. 220 million in the name of these fake companies by evading duties & taxes of Rs. 110 million and fraudulently sold it in the market.
One of the shipments of artificial leather valuing Rs. 16 million involving duty & taxes of Rs. 0.86 million imported by Ayyaz Enterprises in the name of fake company Awami Textile has also been seized at KICT West Wharf, Karachi port by the Directorate of Customs Intelligence, Karachi which has lodged FIR against the Clearing Agent as well as the fake companies on whose name huge quantity of artificial leather was imported without payment of duties & taxes and has initiated further investigations.
The Directorate of Customs Intelligence, Karachi is of the view that this timely cognizance of the misuse of the Export Facilitation scheme introduced by the government for bonafide exporters will help in preventing its misuse by unscrupulous elements in the future.
