IslamabadOfficials from the Federal Integration Council (FBR) of the Senate Permanent Sub -Committee revealed the funding and revenues that commercial banks played a major role in facilitating the huge money laundering plan, more than rupees. 117 billion imports of the solar power panel.
The Revenue Section discovered a rupee. 69.5 billion between 2017 and 2022, during which the money was transferred illegally abroad instead of using it for legitimate trade.
The committee was concerned when it learned that 63 imported companies participated in the process of excessive inflation. Fears were raised about how to manage these companies, which have a large number of paid -up capital, billions of rupees in transactions. For example, one company with rupee only. 2 million in the capital conducted a trade in rupee. 50 billion, while another with rupees. 10 million capital facilitated rupees. 40 billion in trade.
More scrutiny revealed the participation of commercial banks in facilitating these transactions. While the Pakistani State Bank (SBP) imposed fines that exceed rupees. 200 million on banks, the committee questioned the effectiveness of these simple penalties and requested greater transparency about SBP behavior.
Money has been transferred from the plan to overcome multiple countries, including the UAE, Singapore, Switzerland, the United States, Australia, Germany, Canada, South Korea, Sri Lanka and the United Kingdom. The Financial Monitoring Unit (FMU) had placed a sign of suspicious transactions early in 2019, but only 28 suspicious transaction reports were sent to FBR, which was criticized by the Senate Committee for its late response.
Among the companies that have been marked, BRIGHT Star, which conducted four dollars of $ 185 million, was the moon, which conducted two transactions with a total of $ 49 million. In general, the amount amounting to excessive installation and money laundering was $ 427 million.
The committee pledged to continue the investigation and hold all the participants accountable for their role in this financial scandal.
