FBR Unable to Explain Math Behind Sale
The Federal Board of Revenue (FBR) is facing serious criticism from lawmakers after seized dry milk allegedly valued at Rs. 54.4 million was auctioned for only Rs. 20 million. The matter came under discussion during a meeting of the Senate Standing Committee on Finance, where members questioned the transparency of the auction process and demanded a detailed explanation from tax authorities.
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The controversy revolves around a consignment of seized dry milk that Customs Enforcement had reportedly valued at over Rs. 54 million. Despite this official assessment, the stock was later auctioned at a price that lawmakers described as suspiciously low. Members of the committee raised concerns about possible irregularities in the handling, storage, and disposal of the goods.
Lawmakers Question Auction Transparency
Senator Jan Muhammad said it was difficult to understand how goods officially valued at Rs. 54.4 million could be sold for almost one-third of their assessed price. He noted that supporting documents related to the consignment were available, making the large difference between valuation and auction price even more questionable.
Lawmakers also raised concerns over the condition and quantity of the seized stock before the auction. Senator Talha Mahmood questioned whether some of the dry milk bags had disappeared from the warehouse before the sale was completed. According to details discussed in the meeting, nearly 2,000 bags of dry milk had been stored in warehouses managed by FBR authorities.
Concerns Raised Over Warehouse Management
Talha Mahmood further questioned the number of fire incidents reported in FBR warehouses over the years. He alleged that such incidents sometimes occur when officials attempt to conceal evidence or cover up irregularities in the management of seized goods. His remarks intensified the debate over accountability and oversight within the tax authority’s enforcement and storage operations.
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Committee members expressed dissatisfaction with the responses provided by FBR officials during the meeting. Several lawmakers argued that the explanation given by authorities failed to justify the huge gap between the assessed value of the dry milk and the final auction amount.
Senate Committee Demands Detailed Report
The committee also highlighted broader concerns regarding the handling of confiscated goods across the country. Members stressed that seized items are public assets and must be managed through a transparent and accountable process to avoid financial losses to the national exchequer.
The Senate Standing Committee directed FBR officials to submit a comprehensive report within one week. The report must explain the valuation process used for the seized dry milk, provide details about storage arrangements, clarify the auction procedures followed, and address any discrepancies related to inventory records.
Final Thoughts
The controversy surrounding the auction of seized dry milk has raised serious concerns about transparency and accountability within the Federal Board of Revenue. Lawmakers believe the massive difference between the assessed value and auction price cannot be ignored and requires a proper explanation. The upcoming report ordered by the Senate committee is expected.
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FAQs
Why is the FBR facing criticism?
FBR is facing criticism because seized dry milk valued at Rs. 54.4 million was reportedly auctioned for only Rs. 20 million.
What did the Senate committee ask from FBR?
The committee directed FBR officials to submit a detailed report explaining the valuation, storage, and auction process.
How many dry milk bags were involved?
Lawmakers said around 2,000 bags of seized dry milk were stored in FBR warehouses before the auction.
What concerns did lawmakers raise?
Senators raised concerns about missing stock, transparency issues, and possible irregularities in warehouse management.
When will the report be submitted?
The Senate Standing Committee asked FBR to submit the complete report within one week.
