The Federal Investigation Agency (FIA) has recovered Rs 5.94 billion from a private petroleum company in a major duty and tax evasion case involving billions of rupees.

According to the FIA, its Corporate Crime Circle secured the recovery from the company while investigations uncovered additional instances of tax evasion.

According to media reports, the amount recovered includes outstanding dues related to previous duties and taxes owed by the company.

The case has been registered under the Customs Act, the Pakistan Penal Code, and anti corruption laws. Investigators are also examining the role of various institutions and departments connected to the case as the inquiry continues.

The Federal Investigation Agency said further findings related to the companies tax record are expected as the investigation progresses.

Earlier this week, the Lahore High Court issued notices to all respondents on a petition seeking an investigation into what it described as extraordinary profits earned by oil marketing companies and refineries.

The petition alleged that consumers continued to pay high fuel prices while several companies reported record profits.

It also called for a court supervised audit, an inquiry into windfall gains, and measures to prevent further increases in petroleum prices and the Petroleum Development Levy until public relief is provided.