The Senate Standing Committee on Finance has raised serious concerns over the auction of seized dry milk reportedly valued at Rs. 54.4 million but sold for around Rs. 20 million, and has directed the tax authorities to submit a detailed report within one week.

During the committee session, lawmakers questioned the transparency of the process and sought clarification on how the consignment, assessed at a significantly higher value by Customs Enforcement, was disposed of at a much lower price despite the availability of supporting valuation documents.

Committee member Senator Jan Muhammad pointed out that official assessments placed the seized dry milk stock at Rs. 54.4 million, yet it was auctioned for nearly Rs. 20 million, raising concerns over possible irregularities in the sale process.

Lawmakers also highlighted inconsistencies in warehouse records, questioning whether part of the seized consignment—reported to include around 2,000 bags—was unaccounted for before the auction took place. Senator Talha Mahmood asked for clarification on storage conditions and whether any stock had gone missing from warehouses.

He also raised broader concerns about reported fire incidents in Federal Board of Revenue warehouses over the years, suggesting that such incidents could obscure accountability in certain cases.

Members of the committee stressed the need for stronger oversight in the handling, storage, and auctioning of seized goods, noting repeated concerns over transparency in disposal procedures.

The committee has formally instructed FBR officials to submit a comprehensive report within seven days detailing the valuation method, warehouse records, auction process, and any discrepancies linked to the dry milk consignment.