Pakistan Customs has uncovered fraudulent activities within the VBook and Pakistan Single Window System, sources informed The Express Tribune on Sunday, adding that this has raised concerns regarding the unauthorised transfer of funds abroad, exploiting loopholes in the two automated systems.
Officials have reported that importers submitted goods declarations to the Pakistan Customs Department for consignment clearance in open account mode without proper bank permissions.
The Federal Board of Revenue (FBR) received complaints of importers abusing the Open Account facility, prompting the Directorate of Customs Reforms and Automation to take action.
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In response, teams from VBook and the Pakistan Single Window System conducted a thorough examination of the data pertaining to importers who obtained clearance through Open Account.
The investigation exposed violations of the State Bank Foreign Exchange Manual by some importers and customs clearing agents. Customs officials have filed a case against 10 importers and also initiated legal proceedings against 4 Customs clearing agents. The importers named in the cases include Maqsood Steel, Ahmed Noor Steel, Asif Steel, Al Barka Steel, Haroon Brothers Steel, Waqas Steel, Sinco Steel, and others.
Published in The Express Tribune, December 4th, 2023.
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