Karachi, June 13, 2025 – In a stunning revelation that’s sending shockwaves through the business community, the Federal Board of Revenue (FBR) has placed a prominent and active member of the Karachi Chamber of Commerce and Industry (KCCI) under intense scrutiny over alleged offshore assets.
Sources confirm that the high-profile individual has been flagged for holding undisclosed offshore wealth, triggering a formal investigation by the Automatic Exchange of Information (AEOI) Zone at the Large Taxpayers Office (LTO) Karachi. The FBR is now digging deep into financial records, acting on intelligence received through its global network of information-sharing treaties.
The KCCI, known as the largest and most influential business chamber in Pakistan, now finds itself at the center of a potential scandal. While PkRevenue is ethically withholding the identity of the individual under investigation, sources confirm that the name was independently verified against the official active members list of KCCI.
Insiders at the FBR reveal that the investigation is currently in its early stages, but the case was triggered by red flags indicating possible concealment of offshore assets and income. If the inquiry uncovers hidden wealth or tax evasion, it could deliver a seismic jolt to the credibility of Pakistan’s business elite—especially those who publicly advocate for transparency and reform.
The AEOI Zone Karachi, specifically empowered to handle data obtained through international treaties, is zeroing in on high-net-worth individuals suspected of hiding wealth in foreign jurisdictions. According to FBR sources, this KCCI member is just one of many on a growing list of Pakistanis under investigation for undeclared offshore holdings.
“This is not an isolated case,” said one official. “The FBR is aggressively pursuing individuals who thought they could park their offshore wealth beyond the reach of the law.”
As the probe unfolds, the case could have far-reaching implications—not just for the individual involved, but for the broader business environment in Karachi and beyond. The FBR’s message is clear: No one, regardless of influence, is above the law when it comes to hidden offshore assets.