MG Motors Invoicing Scam Is Under Investigation By FBR

The Morris Garages MG Pakistan is a newly entrant in automotive industry of Pakistan. The auto company is currently under probe by Federal Board of Revenue FBR. According to recent reports, MG Pakistan is being investigated by FBR for its mega under- invoicing scam. The FBR has also shared the proof of the scam with concerned authorities and ministers for undertaking investigation against the company.

According to report, the price of a unit is $ 11, 63 , which is probably too low, as the same model is being sold in other countries for over 27 27,000.

The report said that discussions have also been held with other ministries and agencies for a thorough investigation of the under-invoicing evidence, as it has caused billions of rupees to the national exchequer.

With more than 400 CBU units already imported, the company has so far been accused of reporting a reduction in duties and taxes of more than Rs 1 billion.

The MG Pakistan head, Javed Afridi responded on the FBR’s investigation on MG Pakistan’s invoicing scam and said:

As new entrants bring in exciting new models at far lower prices, instead of competition, we expect maligning campaigns and baseless rumours.”

He stated further:

 “We invite everyone to join in a fair competition to serve Pakistani consumers with a bigger and better variety of vehicles at lower prices,”

Afridi also said on his Twitter handler:

“Afridi also stated that for decades, Pakistani automobile consumers have been exploited by “cartels” that cornered them with low quality, boring models at exorbitant prices”