Federal Board of Revenue (FBR) has taken action against 13 fraudulent companies accused of laundering Rs120 billion by misusing solar panel import claims. The firms have been collectively fined Rs111 billion following a customs audit.
The Directorate of Customs Post Clearance Audit led the investigation, which revealed that these companies manipulated trade records and presented false import documents. The goal was to move large sums of money abroad under the pretense of buying solar energy equipment.
In addition to illegal fund transfers, authorities found that over Rs140 billion had been deposited in local banks using forged documents, suggesting an even broader financial malpractice network.
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The companies involved were operating from cities like Islamabad, Quetta, and Peshawar. Customs teams later located 327 containers at various Karachi ports, reportedly filled with solar panels. These are now being processed for auction, potentially adding Rs1.5 billion to the national treasury.
Officials highlighted that the misuse of solar panel imports—a category that often enjoys reduced duties—helped the companies avoid scrutiny while executing trade-based money laundering.
This case has exposed how clean energy initiatives can be exploited for criminal purposes. Authorities emphasized that solar panels were used as a “green cover” to facilitate illegal financial flows.
