FBR freezes K-Electric bank accounts

KARACHI: The Federal Board of Revenue (FBR) has frozen bank accounts of K-Electric for holding onto taxes collected from customers.

According to Chief Commissioner LTU II, K-Electric collected Rs. 677 million under the head of default surcharges from its customers. The withhold amount was not transferred to FBR despite various notices.

The board using its powers, directed banks to freeze all K-Electric accounts. FBR collected Rs 350 million from nine frozen accounts and is working for the recovery of the remaining amount.

When contacted a spokesman from K-Electric denied that the accounts had been frozen.