KARACHI: The Federal Investigation Agency (FIA) has registered a case against prominent chartered accountant and former Federal Board of Revenue (FBR) chairman Shabbar Zaidi for allegedly authorising illegal income tax refunds worth Rs16 billion during his tenure in the PTI government.
According to sources, the case has been filed by the FIA’s Anti-Corruption Circle, accusing Mr Zaidi of criminal misconduct, abuse of authority, and misuse of public funds. The investigation alleges that the refunds were issued without due process, causing a substantial loss to the national exchequer.
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The FIA claimed that three private banks, two cement factories, and one chemical company were among the main beneficiaries of the disputed refunds. Investigators further alleged that these entities had previously been clients of Mr Zaidi’s private audit and consultancy firm, raising serious concerns about a conflict of interest.
Mr Zaidi, who served as FBR chairman from 2019 to 2020, has not yet publicly commented on the allegations. The FIA is reportedly collecting documentary evidence and statements from FBR officials involved in processing the refunds to determine the extent of irregularities.
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Sources within the agency said that further arrests could follow depending on the outcome of the inquiry, as the case underscores the government’s renewed focus on financial accountability and institutional transparency.