FIA Petroleum Levy Case: Company Starts Repayment of Rs47bn

The FIA Petroleum Levy case in Karachi has reached a critical stage. A petroleum company has begun repayments after causing massive financial losses. Investigators say the loss harmed the national treasury between 2019 and 2022. As a result, authorities now see progress in a long-running investigation.
Officials state that the company failed to deposit a government tax on fuel sales. Instead, it allegedly used fraudulent methods to withhold funds. However, after years of scrutiny, the firm agreed to return the full amount. Therefore, the case marks one of Karachi’s largest recoveries.

Investigation Details and Charges

The FIA’s Corporate Crime Circle in Karachi led the investigation. The circle head personally supervised the inquiry and submitted a detailed report. In addition, the team shared findings with the Public Accounts Committee.
The report states that the company avoided paying a fuel levy for three years. This act reportedly caused a loss of Rs47 billion. For example, investigators tracked sales data and tax records to confirm the amount.
The Ministry of Energy filed the complaint through its deputy director. Authorities named 13 individuals as suspects. These included company owners, board members, and senior executives. A former power utility chief also appeared among the accused.

Repayment Plan and Official Confirmation

After extended discussions, the company agreed to repay the full amount. It paid the first installment of Rs1 billion in cash. Moreover, it submitted post-dated cheques worth Rs46.4 billion.
The firm also provided an unconditional bank guarantee. Therefore, the government secured strong financial protection. The FIA official confirmed the report submission and payment status.
This development highlights stronger enforcement efforts. It also signals increased accountability in financial matters. As a result, public trust in regulatory institutions may improve.