FIA Books Oil Firm Executives in Multi-Billion Customs Fraud Case
The Federal Investigation Agency has registered a major case in Karachi against senior executives and officials linked to an oil marketing company over allegations of a multi-billion rupee customs fraud. The case centres on claims that large quantities of imported petroleum products were removed from bonded facilities and sold without payment of duties, taxes and petroleum levy.
According to the agency, its Corporate Crime Circle booked top officials associated with Gas & Oil Pakistan Limited, Terminal One Limited and related bonded warehouse operations. The case also names relevant officials from customs collectorates in Port Qasim, Faisalabad and Lahore-East, indicating that investigators are treating the matter as wider than a single-site violation.
The FIR has been registered under provisions of the Customs Act, the Pakistan Penal Code and the Prevention of Corruption Act. Investigators allege that imported petroleum products stored in customs-bonded warehouses cannot be removed, dispatched, sold or consumed until formal goods declarations are filed and all applicable government dues are paid.
A spokesperson for GO Petroleum rejected the implication that the company had defaulted on statutory obligations, saying the firm remained current on duties, taxes, levies and other liabilities that had become payable. The company also said it was cooperating with authorities and would address all matters through lawful and regulatory channels.
The FIA’s allegations include the sale of approximately 4,744 metric tons of bonded HOBC, also known as RON 95, from a Port Qasim terminal before the filing of the first required declaration. Investigators said the findings were supported by forensic material obtained from the laptop of a terminal manager.
The inquiry also examined GO Petroleum’s customs-bonded terminal in Mehmoodkot, Muzaffargarh. FIA officials said a reconciliation of customs and WeBOC records suggested that 39,121 metric tons of bonded petrol should have been present at the facility on June 22, even though that quantity exceeded the terminal’s licensed storage capacity.
A joint inspection by the FIA, the Oil and Gas Regulatory Authority and Customs allegedly found only 7,039.7 metric tons in the tanks. Investigators concluded that around 32,081 metric tons of bonded petrol had been removed from the warehouse without the required declarations and payments, a claim the company is expected to contest through the legal process.
The case has wider significance for Pakistan’s fuel supply chain because petroleum imports involve heavy public revenue exposure through customs duties, taxes, petroleum levy and other charges. Any confirmed irregularity in bonded oil storage can affect government receipts, market oversight and confidence in regulatory enforcement across the energy sector.
The next phase will depend on the FIA’s investigation, the role of customs and regulatory authorities, and the company’s response before the relevant legal forums. With billions of rupees in alleged revenue exposure and senior corporate officials named, the case is likely to remain under close scrutiny by regulators, energy market participants and public finance observers.