The prime suspect behind the multi-billion-rupee solar panel import scandal, Rub Nawaz, was apprehended in Karachi on Saturday. Investigation officials revealed that Nawaz attempted to secure bail in the Customs Court but was ultimately arrested after hours of evading authorities.
Officials disclosed that Rub Nawaz had concealed himself within the premises of the Customs Court for an extended period, even remaining after the judge had left. The arrest of the main accused is anticipated to propel the investigation forward into the alleged solar panel import scam, where an estimated Rs 73 billion in taxes was reportedly evaded.
An exhaustive scrutiny of accounts related to solar panel imports implicated 63 companies in over-invoicing practices, totaling Rs 73 billion. The Federal Board of Revenue (FBR) uncovered a systematic pattern of over-invoicing involving 6,232 Goods Declarations from 63 importers.
Notably, Rs 72 billion was transferred by two private companies, despite the reported import value of solar panels standing at Rs 45 billion. A Senate standing committee on finance received a briefing from the FBR chairman on the issue of over-invoicing.
Arrest of the main accused is anticipated to propel the investigation forward into the alleged solar panel import scam, where an estimated Rs 73 billion in taxes was reportedly Further complicating matters, an FIR has been registered against commercial banks for violating financial monitoring unit rules during the fund transfers, adding another layer to the unfolding scandal.
