Islamabad (Business Desk) Money laundering worth billions of rupees has been revealed under the guise of solar panels from the country, FBR officials said that over invoicing of Rs 69.5 billion has been done between 2017 and 2025.
According to private TV Express News, the issue of money laundering worth billions of rupees under the guise of solar panels was reviewed in the sub-committee meeting of the Senate Standing Committee on Finance.
Solar panels were ordered from China, while payments were made in ten other countries including the United States, Singapore, and the United Arab Emirates. Sending money to other countries instead of China is an illegal act.
According to the FBR, 13 FIRs have been registered so far regarding over invoicing. Mohsin Aziz said that a report will be compiled after investigating the entire matter. The State Bank has not yet given a report.