Federal authorities have intensified investigations into alleged economic offences, with separate cases being pursued by the Federal Investigation Agency (FIA), Federal Board of Revenue (FBR) and Pakistan Customs in Gujranwala and Karachi.
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 him, while a fresh case has reportedly been registered through FIR No. 01/2026.
Investigators are also examining records and ledgers allegedly linked 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 in connection with the transactions under investigation.
A separate investigation is underway 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 declared as silver-bearing material imported from Europe, the United States and the United Kingdom. Investigators reportedly suspect that the containers contained copper cables, including categories whose import is subject to restrictions.
Sources have estimated the potential tax and duty evasion involved in the Karachi case at around Rs50 billion. However, the figure remains part of the ongoing investigation and does not represent a final determination of liability.
Investigators are examining import documents, declared descriptions, valuations and other records to determine whether customs, taxation or other laws were violated.
The Karachi investigation has also reportedly connected the consignments to Malik Zaheer, a Gujranwala-based industrialist and former president of the Gujranwala Chamber of Commerce.
Authorities have been pursuing the cases as part of a wider enforcement drive against alleged hawala-hundi, money laundering, tax evasion and other financial offences.
Attempts were made to obtain responses from the individuals and entities named in connection with the investigations. Haji Amjad Saleem Butt is in custody and a statement from his counsel is awaited. Malik Zaheer and the two currency exchange companies were also approached, but no response was received before publication.
All allegations remain subject to investigation and legal proceedings. The individuals named in connection with the cases are presumed innocent unless proven guilty by a competent court.
