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Home / Islamabad / Govt directs FBR to start investigations about $17.5m money laundering case
Govt directs FBR to start investigations about $17.5m money laundering case
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Govt directs FBR to start investigations about $17.5m money laundering case

ISLAMABAD: Chinese government requested to the Pakistani government regarding the issue of money laundering of $17.5 million by the Chinese company M/s Yabit, a contractor company of Multan Metro Bus Project.

Sources told Customs Today that on the request of Chinese government, Pakistani government has directed the Federal Board of Revenue to investigate the matter. Federal Board of Revenue has also received officially request by the Chinese
Security Exchange Regulatory Commission for the investigation of money laundering issue related to the Chinese company.

It is necessary to mention here that FBR has started investigations from M/s Habib Rafiq Group of Companies, which are the main contractor of Multan Metro Bus Project.

According to details $1.7 million has been shifted to China in the account of Chinese company from Mauritius and Dubai. Chinese company was partner of Pakistani company M/s Capital Engineering who is working on Multan Metro Bus Project. Capital engineering is not registered with security exchange commission of Pakistan.

It is important to mention here that Chinese Security Exchange Regulatory Commission was also approached to the SECP but SECP refused to pass any information regarding Capital Engineering Company.