Pakistan, July 26 -- The Federal Board of Revenue (FBR) has uncovered a major alleged tax evasion case involving Pakistan's oil sector after 8,348 metric tons of imported petrol reportedly went missing from a customs bonded warehouse. According to official documents, the missing fuel is linked to an estimated loss of Rs1.25 billion in unpaid duties, taxes, and levies. Authorities have launched an investigation to determine how the large quantity of petrol disappeared from the warehouse.

The inquiry began after officials examined the imported petroleum consignments of a private oil company. Documents allege that the company secretly transferred petrol worth Rs2.38 billion from a customs bonded warehouse without paying the required taxes. ...