Officials in Karachi have apprehended Rub Nawaz, the prime suspect in a mega solar panel import fraud case.
Nawaz, implicated in a scandal involving billions of rupees, sought bail preemptively after concealing himself within the Customs Court of Karachi for an extended period, even remaining after court adjournment.
According to investigative sources, Rub Nawaz’s arrest marks a pivotal advancement in investigating the solar panel import scandal, where officials have identified tax evasion surpassing Rs 73 billion.
An examination of 450 company accounts revealed that 63 were engaged in over-invoicing practices during solar panel imports. A detailed investigation uncovered over Rs 69.5 billion in over-invoicing between 2017 and 2022, based on an FBR report highlighting a consistent over-invoicing pattern across 6,232 Goods Declarations by 63 importers. It was discovered that Rs 72 billion was transferred by two private companies for solar panels valued at only Rs 45 billion.
The Senate’s finance committee received a comprehensive briefing on this matter from the FBR chairman. The briefing highlighted commercial banks’ breach of financial monitoring unit regulations, which resulted in the registration of an FIR against the involved parties.
