The Federal Board of Revenue (FBR) has taken an important step by recommending the Federal probe Agency (FIA) to launch a probe into suspected money laundering by Pakistan International Airlines (PIA) top management. This action is being taken in response to allegations of financial irregularities within the airline’s leadership.
The FBR, which is in charge of tax collection and revenue problems, has written to the Director General of FIA, demanding an inquiry into the suspected theft of money by PIA’s top management. According to available information, the FBR Karachi office has raised the problem of PIA failing to pay Federal Excise Duty (FED) of Rs 8.8 billion.
According to the letter, PIA’s top management has not only failed to pay the unpaid FED but has also been complicit in embezzling public monies for personal benefit. The frequent failure to pay dues shows a habit of misappropriation, which is illegal.
Furthermore, the letter claims that PIA’s Chief Financial Officer (CFO) and General Manager (GM) Accounting violated the Foreign Exchange Regulation Act of 1947 by misappropriating money.
It’s worth noting that these charges are still being investigated and have yet to be proven. As a law enforcement body, the FIA will undertake a comprehensive investigation to assess the validity of the allegations and whether any financial crimes have been committed.
Finally, the FBR’s request to the FIA to examine charges of money laundering against PIA’s top management emphasizes the need for financial integrity and responsibility among public organizations. The probe will shed light on the incident and decide if legal action is required.