FIA registers billion-rupee tax evasion case against GO Petroleum

ISLAMABAD: The Federal Investigation Agency (FIA) has launched a major crackdown against GO Petroleum, registering a case over the alleged evasion of customs duties, taxes, and petroleum levy amounting to billions of rupees.

According to the FIA, the case pertains to the alleged illegal sale of bonded petroleum products in violation of applicable regulations. The FIR claims that the alleged activities caused losses worth billions of rupees to the national exchequer.

Several individuals, including senior company officials and the CEO of GO Petroleum, have been named in the FIR. Investigators have also alleged the alteration of official records and the use of forged documents to facilitate the alleged scheme.

The case has been registered under various provisions of the Customs Act, the Pakistan Penal Code, and anti-corruption laws. The FIA’s Corporate Crime Circle Karachi has expanded the scope of the investigation to determine the full extent of the alleged financial irregularities.

Officials say the inquiry is ongoing and may involve additional individuals from both the public and private sectors. The FIA is continuing efforts to assess the total financial impact on the national exchequer and identify all those allegedly involved in the case.