Rs160cr Hawala case sparks wider probe, 50 Karachi containers seized

Officials familiar with the ongoing investigations told Minute Mirror that enforcement agencies have stepped up coordinated action against networks

ISLAMABAD: Pakistan’s authorities have intensified a nationwide crackdown on suspected financial crimes, with investigations into hawala-hundi, money laundering, tax evasion and alleged misdeclaration of imported goods expanding from Gujranwala to Karachi.

Officials familiar with the ongoing investigations told Minute Mirror that enforcement agencies have stepped up coordinated action against networks suspected of moving or concealing illicit funds and causing losses to the national exchequer.

The latest developments include the detention of a Gujranwala-based currency exchange operator in connection with an alleged Rs160 crore tax and financial case and the seizure of around 50 import containers at Karachi Port in a separate investigation involving alleged misdeclaration of cable consignments. Investigators have estimated the potential tax and duty exposure in the Karachi case at up to Rs50 billion, although the figure remains subject to examination, adjudication and determination by the relevant authorities.

The investigations are being conducted by agencies including the Federal Investigation Agency, Federal Board of Revenue and Pakistan Customs, with officials examining financial records, transaction trails and import documentation.

In Gujranwala, investigation officials said Haji Amjad Saleem Butt, who is associated with currency exchange businesses, has been taken into custody. Officials said a previous tax or duty case involving approximately Rs160 crore was already pending against him and that a fresh case has subsequently been registered.

Investigators are examining ledgers and records associated with Noble Currency Exchange and Shaheen Currency Exchange. According to officials familiar with the inquiry, investigators are also scrutinising transactions allegedly involving several Gujranwala-based industrialists.

A senior FIA official said that individuals whose names emerge from the financial records would be examined as part of the investigation, adding that the extent of any wrongdoing would only become clear after forensic examination of the documents and transaction records.

Sources further claimed that some individuals connected with the inquiry had gone underground or left the country following the arrest. This claim could not independently be verified by Minute Mirror.

The Gujranwala investigation comes alongside a major Customs inquiry at Karachi Port, where approximately 50 containers have reportedly been seized over suspected misdeclaration of imported goods.

According to Customs officials familiar with the case, consignments imported from Europe, the United States and the United Kingdom are being examined over allegations that material containing copper cables was declared differently in import documentation. Officials are also investigating whether restricted or otherwise regulated goods were brought into the country by allegedly misusing available import facilities.

A Customs official said the seized consignments represented a substantial commercial operation and that investigators were examining whether additional shipments were connected to the case.

Officials have provisionally estimated the potential revenue loss at around Rs50 billion. However, the amount has not been finally determined and remains an investigative estimate pending examination of the consignments, laboratory testing, assessment of duties and taxes and completion of the legal process.

The Karachi investigation has also brought the name of Malik Zaheer, described in investigative correspondence as a prominent Gujranwala industrialist and former president of the Gujranwala Chamber of Commerce, into the inquiry. Officials and sources have linked the containers to business interests associated with him, although Minute Mirror has not been provided with evidence of a conviction against him.

Sources said Zaheer has travelled to Karachi during the investigation despite ongoing Chamber of Commerce elections in Gujranwala. Claims circulating in the market regarding a possible settlement have not been independently verified, while investigators have denied that any such arrangement is being pursued.

The wider crackdown is being presented by officials as part of Pakistan’s broader campaign against illicit financial networks and other forms of economic crime. Authorities have also linked financial investigations with efforts to disrupt networks associated with terrorism and narcotics trafficking.

The United States Embassy in Islamabad publicly acknowledged Pakistan’s counter-narcotics cooperation on September 21, 2026, in connection with action against an international drug network. The embassy said such networks pose threats across borders. Separately, Pakistani officials have alleged that some criminal and militant networks rely on financial channels that extend beyond conventional banking systems.

Officials familiar with the current enforcement drive said agencies have been instructed to maintain closer coordination and provide regular updates on major investigations. The stated focus includes suspected hawala-hundi operations, money laundering, undeclared wealth, tax evasion and customs-related violations.

However, investigators have yet to establish through final judicial or administrative proceedings the full scale of the alleged financial losses in either of the two cases.

Minute Mirror contacted the relevant parties for their positions. Haji Amjad Saleem Butt is currently in custody, and no public statement from his legal representatives was available at the time of publication.

Repeated attempts were also made to obtain Malik Zaheer’s response through messages and voice communications. No response had been received by the time of filing. His right of reply remains open, as does the right of response of Noble Currency Exchange, Shaheen Currency Exchange and any other party named during the investigation.

The investigations remain ongoing, and allegations against the individuals and businesses mentioned in this report have not been adjudicated by a competent court. No person named in connection with the cases should be considered guilty unless and until liability is established through due legal process.

FIA investigators are expected to continue examining the financial records recovered during the Gujranwala inquiry, while Customs authorities are conducting further scrutiny and testing of the consignments seized at Karachi Port. Officials said additional cases or recovery proceedings could follow if evidence establishes violations of applicable laws.

Minute Mirror will continue to follow the investigations, including any FIRs, court proceedings, Customs adjudication orders and responses from the individuals and businesses concerned.