Federal Board of Revenue orders immediate reporting of all confiscated precious metals amid concerns of mismanagement
Islamabad: Pakistan Customs’ various collectorates have reportedly failed to deposit billions of rupees worth of seized gold and silver with the State Bank of Pakistan, sources revealed.
According to officials, the Federal Board of Revenue (FBR) has issued directives to all Customs enforcement and airport collectorates to immediately submit complete records and data regarding confiscated gold and silver.
Sources indicate that these precious metals have remained in collectorate lockers for several years, and their failure to be transferred to the State Bank means they are not reflected in the national treasury records.
Concerns are also being raised over possible tampering or theft due to alleged negligence and weak oversight by Customs collectorates, which may have left seized gold and silver vulnerable in storage. The FBR’s directive aims to ensure accountability and proper documentation of all assets seized under customs enforcement.
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