KARACHI: Directorate of Customs Intelligence, Karachi has detected a massive scheme involving the illegal import of artificial leather worth Rs. 220 million.

According to the details, the credible information, received by Director General Faiz Ahmed Chadhar, has revealed a web of deceit and illegal activities by an accused Clearing Agency.

The investigation further revealed had been importing artificial leather without paying duty and taxes, using fake companies as fronts. These companies were allegedly set up to manufacture goods for export, but in reality, the imported leather was being sold illegally in the market.

Further investigation revealed that the fake companies did not physically exist, and the artificial leather was being sold without payment of duties and taxes, causing a significant loss to the national exchequer.

The further investigation is in progress.

Copyright Business Recorder, 2024