A major corruption case has come to light at the Federal Treasury Office, involving alleged fraud worth billions of rupees. Officials and stamp vendors are suspected of colluding using fake documentation.
Sources report that stamp papers worth tens of millions, and possibly billions, were issued on fraudulent receipts. Federal Treasury officials allegedly worked with vendors to bypass standard procedures.
The scam reportedly went unnoticed for years due to the lack of a verification system between the State Bank of Pakistan (SBP) and the Treasury Office. Under normal procedures, vendors deposit stamp paper fees at the SBP, receive official receipts, and collect stamp papers for market sale. This process was allegedly manipulated using fake receipts, allowing the illegal issuance of vast quantities of stamp papers.
Ministry of Finance officials confirmed that loopholes in the system allowed this fraud to continue for years. “The absence of a real-time verification mechanism created a perfect environment for manipulation,” sources said.
A high-level inquiry committee has been formed to investigate the corruption case and is expected to submit its report within one month. Meanwhile, the Federal Treasury has lodged an FIR against some vendors, although several have reportedly fled abroad to avoid arrest.
Experts warn that the total financial loss could run into billions of rupees, making it one of the largest revenue frauds in recent years. Finance Secretary Imdad Ullah Bosal and Ministry of Finance spokespersons have not commented on the corruption case.
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This case highlights the urgent need for digital verification systems and stronger oversight in federal financial operations. Authorities are expected to implement measures to prevent such large-scale fraud in the future, protecting the national revenue and public trust.
