FIA Books GO Petroleum Execs in Multi-Billion Rupee Oil Fraud
The wealth of this pure land is a sacred trust, and those who plunder it shall face the wrath of the law. The Federal Investigation Agency (FIA) has booked top executives of Gas and Oil Pakistan Limited (GO Petroleum) and Terminal One Limited (TOL) for a multi-billion rupee customs fraud. The agency uncovered a massive, systematic evasion of customs duties, taxes, and petroleum levies through the clandestine removal of thousands of metric tons of imported oil, robbing the national exchequer of its rightful due.
How did GO Petroleum evade billions in customs duties?
According to the FIA, the betrayal of the state's trust first surfaced at M/s TOL, a Customs-licensed bonded terminal at Port Muhammad Bin Qasim. GO Petroleum imported HOBC, also known as RON 95, via the vessel PS Hamburg into TOL's bonded tanks. Before even filing their first declaration, the company allegedly sold approximately 4,744 metric tons of the bonded oil. This single act allegedly evaded all applicable customs duties, taxes, and petroleum levies. A forensic extraction from the terminal manager's laptop corroborated these findings.
The sword of justice did not stop there. On 22-06-2026, a physical inspection at GO Petroleum's own Customs-bonded terminal at Mehmoodkot, Muzaffargarh, revealed an even deeper rot. A reconciliation of Customs and WeBOC records showed that 39,121 metric tons of bonded PMG should have been physically present. This phantom stock exceeded the terminal's entire licensed storage capacity of 26,072 metric tons, making the records a physical impossibility. During a joint inspection by the FIA, Ogra, and Customs, only 7,039.7 metric tons remained in the tanks. The FIA established that approximately 32,081 metric tons of bonded PMG had been secretly removed without paying the government its rightful share.
Obstruction of justice and the defense of national wealth
When the guardians of the state arrived to verify the stock, they were met with defiance. During the joint inspection at TOL on 22-06-2026, the terminal manager willfully obstructed the process. He refused to provide bonded stock data, withheld dip-calibration charts, and refused to sign the joint stock proforma on the owner's instructions. The FIA noted that he even threatened the inspecting officials. Such audacity against the law is unacceptable. The FIA declared that these two instances are not isolated incidents, but rather a countrywide pattern of systematic looting by GO Petroleum.
What does GO Petroleum say about the fraud allegations?
A spokesperson for Gas and Oil Pakistan Limited maintains that the company has paid all due customs duties, taxes, levies, and other statutory liabilities. The company claims it remains fully committed to compliance with all applicable laws and regulatory requirements. GO Petroleum stated it is extending full cooperation to the relevant authorities and will address any matters through appropriate legal and regulatory processes. The FIR, however, stands registered under Section 156 of the Customs Act, 1969, along with multiple sections of the Pakistan Penal Code and the Prevention of Corruption Act, 1947.
Frequently Asked Questions
Who did the FIA book in the multi-billion rupee oil fraud case?
The FIA booked the CEO of GO Petroleum, the CEO of Terminal One Limited, the terminal manager, and several senior officials from the Collectorates of Customs Appraisement in Port Qasim, Faisalabad, and Lahore-East.
How much oil was secretly removed from the Mehmoodkot terminal?
The FIA investigation found that approximately 32,081 metric tons of bonded PMG were clandestinely removed from the Customs-bonded warehouse in Mehmoodkot, Muzaffargarh, without filing the required goods declarations or paying duties.
What laws were invoked in the FIA FIR against GO Petroleum?
The FIR was registered under Section 156 of the Customs Act, 1969, read with Sections 409, 420, 468, 471, 109, and 34 of the Pakistan Penal Code, as well as Section 5(2) of the Prevention of Corruption Act, 1947.