Displaying items by tag: Zeal Pak Cement

Pakistan: The Federal Board of Revenue (FBR) has found that Zeal Pak Cement dodged paying US$19.7m to the authorities via tax evasion and money laundering schemes. As well as underpaying tax on imports of cement the cement producer also sent money to Iran, according to the National Herald Tribune newspaper. The FBR was alerted to the malpractice mid-way through importing a 86,500t consignment of Ordinary Portland Cement that was subsequently impounded. Zeal Pak Cement is also accused of fabricating false invoices and other documents.