In a dramatic twist, the Federal Investigation Agency (FIA) has withdrawn a corruption case worth Rs16 billion against former Federal Board of Revenue (FBR) chairman Syed Muhammad Shabbar Zaidi—barely 24 hours after registering it.
According to an FIA notification issued by its Karachi Zone, the agency has officially cancelled FIR No. 32/2025 dated October 29, 2025, reclassifying it as a “C-Class” case and submitting a discharge report in Zaidi’s favour. The decision effectively clears the former FBR chief of all allegations within a day of the case being filed.
The now-withdrawn case was originally lodged by the FIA’s Anti-Corruption Circle on Thursday. It had accused Zaidi of unauthorised income tax refunds worth Rs16 billion allegedly issued during his time as FBR chairman. The FIR claimed Zaidi was involved in criminal misconduct, abuse of authority, and unlawful disbursement of public funds.
Documents reviewed by the FIA suggested the refunds benefitted three private banks, two cement manufacturers, and a chemical company—all said to be clients of Zaidi’s private audit and consultancy firm before he joined the FBR. The agency had earlier argued this overlap raised potential conflict-of-interest concerns.
However, with the case now cancelled and classified as “C-Class,” the FIA’s move has completely overturned the corruption allegations, sparking questions about how and why the case was registered—and withdrawn—so quickly.
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