The Federal Investigation Agency (FIA) has registered a case against the chief executive officer of GO Petroleum and several company officials over allegations of illegally selling bonded petroleum products, allegedly causing multi-billion rupee losses to the national exchequer through evasion of customs duties, taxes, and the petroleum levy.

According to the FIR lodged by the FIA’s Corporate Crime Circle Karachi, the accused allegedly diverted bonded petroleum products into the local market instead of complying with customs procedures governing imported fuel. The agency claims the alleged scheme resulted in massive financial losses to the government.

The FIR further alleges that company officials manipulated records and used forged documents to conceal the alleged irregularities.

According to the FIR, the fuel was transported from Port Qasim to Mehmoodkot through the White Oil Pipeline and the PARCO pipeline network while it remained under customs bond. Under the applicable customs regime, such fuel cannot be sold, removed, or consumed until import duties and taxes are paid through the required customs clearance process.

The case has been registered under multiple provisions of the Customs Act, the Pakistan Penal Code, and anti-corruption laws.

The FIA said investigators are examining financial records, import documents, and related transactions to determine the exact scale of the alleged fraud and quantify the losses to the national treasury.

The agency added that the investigation has been expanded and may lead to the nomination of additional individuals from both the public and private sectors who allegedly facilitated the illegal sale of bonded petroleum products.