FIA, FBR intensify crackdown on alleged economic offences as Gujranwala-Karachi links emerge

Federal authorities have stepped up action against networks allegedly involved in hawala-hundi, money laundering, tax evasion

ISLAMABAD/RAWALPINDI/KARACHI/GUJRANWALA: Federal authorities have stepped up action against networks allegedly involved in hawala-hundi, money laundering, tax evasion and other financial offences, with investigations spanning Gujranwala and Karachi.

According to sources, the Federal Investigation Agency (FIA), Federal Board of Revenue (FBR) and Pakistan Customs are pursuing separate but significant cases as part of an intensified enforcement drive against what officials have described as economic crimes.

Gujranwala hawala investigation

In Gujranwala, FIA sources said Haji Amjad Saleem Butt, who is associated with the currency exchange business, has been taken into custody in connection with an investigation into alleged financial irregularities.

Sources said a tax and duty demand of approximately Rs160 crore was already pending against Butt, while a fresh case has reportedly been registered through FIR No. 01/2026.

Investigators are also examining records and ledgers allegedly belonging to Noble Currency Exchange and Shaheen Currency Exchange. According to FIA sources, the documents contain names of several Gujranwala-based industrialists who are being examined as possible beneficiaries or associates in the transactions under investigation.

Officials said inquiries involving the currency business had been initiated in the past as well, but no arrest had materialised at that stage. The latest action has now brought the matter into a more active investigative phase.

The FIA investigation remains underway, and the allegations will be subject to further verification and legal proceedings.

Karachi port seizure

A separate investigation is under way at Karachi Port, where FBR authorities and Pakistan Customs have reportedly intercepted around 50 import containers in a case registered as FIR No. 12/26

According to sources, the consignments were allegedly declared as silver-bearing material imported from Europe, the United States and the United Kingdom. Investigators reportedly suspect that the containers actually contained copper cables, including certain categories whose import is subject to restrictions.

Sources have estimated the potential tax and duty evasion involved in the case at approximately Rs50 billion. Officials, however, have described the figure as part of the ongoing investigation, and it does not constitute a final determination or adjudication of liability.

Investigative correspondence has also allegedly connected the consignments to Malik Zaheer, a Gujranwala-based industrialist and former president of the Gujranwala Chamber of Commerce.

The authorities are examining the import documentation, declared descriptions, valuation and other relevant records to determine whether any violations of customs, taxation or other applicable laws occurred.

Right of reply

Attempts were made to obtain responses from the individuals and entities named in connection with the investigations.

Haji Amjad Saleem Butt is currently in custody and a statement from his counsel is awaited. Repeated attempts were also made to contact Malik Zaheer through WhatsApp and telephone, but no response was received before filing. His right to reply remains open.

Noble Currency Exchange and Shaheen Currency Exchange were also approached for their comments, but no response was received.

All allegations mentioned in this report are subject to investigation. All individuals named are presumed innocent unless proven guilty by a competent court.