The chief executive officer of Faisalabad Electric Supply Company (FESCO), Amir Pannu, and his three sons have been booked in a case involving alleged tax evasion amounting to Rs320 million, according to the first information report (FIR).
The FIR names Pannu’s sons, Muhammad Hadi, Muhammad Saad and Muhammad Ibrahim, along with other individuals allegedly linked to the case.
According to the report, taxes allegedly evaded during 2025 and 2026 were converted into assets through gifts and property purchases registered in the names of the CEO’s sons.
The FIR further alleges that the amounts of cash declared in earlier asset statements were subsequently altered. In his 2014 tax declaration, Pannu reportedly declared Rs3.5 million in cash, a figure that was later allegedly increased to Rs733 million, despite his declared income for that year being Rs1.139 million.
The report also alleges that gifts worth billions of rupees were declared in the names of his sons in 2025 and 2026. The acquisition of agricultural land and other properties in Faisalabad and Chiniot has also been included in the investigation.
According to the FIR, the original sources of the assets were allegedly concealed through changes to asset declarations and transfers of funds.
The case has been registered under the Prevention of Money Laundering Act, 2010.
Responding to the allegations, FESCO CEO Amir Pannu said the matter involved inherited properties whose value had been declared as taxable income. He added that he would contest the case registered by the Federal Board of Revenue (FBR).
