Authorities in Faisalabad have registered a case against the Chief Executive Officer of the Faisalabad Electric Supply Company (Fesco) and his three sons for alleged involvement in a multi-million rupee tax fraud. The Fesco news today highlights a significant investigation by the Directorate of Intelligence and Investigation Inland Revenue, which accuses the official of evading taxes worth more than Rs320 million.
Allegations of Asset Concealment
According to the First Information Report (FIR), the investigation focuses on taxes allegedly evaded during the years 2025 and 2026. The directorate claims that these unpaid taxes were converted into tangible assets, including agricultural land and properties in Faisalabad and Chiniot. These assets were reportedly registered in the names of the CEO’s sons: Muhammad Hadi, Muhammad Saad, and Muhammad Ibrahim.
Investigators allege that the sources of these funds were hidden through a series of gifts and transfers. The FIR specifically points to discrepancies in historical tax filings. For instance, in 2014, the CEO reportedly declared Rs3.5 million in cash, but this figure was later allegedly revised upward to Rs733 million, despite his declared income for that year being just over Rs1.1 million.
Money Laundering Charges
The case has been filed under the Prevention of Money Laundering Act, 2010. The Inland Revenue department, which is the tax collection and enforcement arm of the Federal Board of Revenue (FBR), claims that billions of rupees in gifts were declared in the names of the sons to mask the original source of wealth. The probe is currently examining the purchase history of various land holdings to trace the flow of capital.
Response from the CEO
In response to the allegations, Fesco CEO Muhammad Amir Pannu has dismissed the claims as unfounded. He stated that the properties in question are part of his family inheritance and that their values have been correctly reflected as taxable income in his filings. Mr. Pannu confirmed that he intends to legally contest the case brought against him by the FBR.
Aasan alfaaz mein
Fesco ke CEO aur unkay beton par 32 crore rupay se zyada ki tax chori ka ilzam lagaya gaya hai. Tax mahkama kehta hai ke unhon ne apni asli aamdani chhupayi aur ghalat tareeqay se jaidad banayi. CEO ne in ilzamaat ko ghalat qarar diya hai aur kaha hai ke ye unki abayi jaidad hai.
