TOBA TEK SINGH: The Directorate of Intelligence and Investigation Inland Revenue, Faisalabad, has registered a case against Faisalabad Electric Supply Company (Fesco) CEO Muhammad Amir Pannu and his three sons over alleged tax evasion and money laundering involving more than Rs320 million.

According to the first information report, taxes allegedly evaded during the years 2025 and 2026 were converted into assets through gifts and property purchases in the names of the CEO`s sons. His three sons, Muhammad Hadi, Muhammad Saad and Muhammad Ibrahim, along with other related persons, have also been named in the case.

The FIR alleges that cash amounts declared in previous years were altered in the asset declarations. In his tax declaration for 2014, Mr Pannu reportedly declared Rs3.5 million in cash, which was later allegedly increased to Rs733m, while his declared income for that year stood at Rs1.139m.

It further alleges that gifts worth billions of rupees were declared in the names of his sons in 2025 and 2026. The purchase of agricultural land and other assets in Faisalabad and Chiniot is also part of the investigation.

According to the FIR, the original sources of the assets were allegedly concealed through alterations to asset declarations and the transfer of funds.

The case has been registered under the Prevention of Money Laundering Act, 2010.

In his response, Fesco CEO Amir Pannu said the matter concerned his inherited properties, the value of which had been declared as taxable income. He said he would contest the case registered by the Federal Board of Revenue (FBR).

Correspondent