PM order nationwide crackdown on benami properties

ISLAMABAD: Prime Minister Imran Khan on Friday directed all the deputy commissioners and heads of development authorities to identify benami properties in their respective areas and submit their reports within one month.

In a letter issued from his office on Friday, the PM underlined the need for taking immediate and appropriate measures to identify the benami properties.

He also directed the officials concerned to submit a report in this regard to the Federal Board of Revenue as well as the Prime Minister Office by September 30th.

The PM warned the officials of grave consequences if any such property was discovered later in their areas.

Earlier this month, the incumbent government, in a bid to tighten its noose around benami property holders, had established a six-member anti-benami directorate to collect data regarding undeclared assets.

The purpose of the Benami Information Processing Committee was to expedite action against benami assets and assist relevant authorities to improve their performance.

According to sources, the FBR has already started investigations against around 100 people in this regard, including those belonging to the Omni Group.

Formed under the Benami Transactions Act 2017, the Benami Information Processing Committee includes officers from the Inter-Services Intelligence (ISI), Intelligence Bureau (IB), Federal Investigation Agency (FIA), State Bank of Pakistan (SBP), Securities and Exchange Commission of Pakistan (SECP) and the Federal Bureau of Revenue (FBR).

Must Read

Indian regulator rejects Apple request to put antitrust report on hold

NEW DELHI: India’s antitrust body has turned down a request from Apple to put a hold on an investigation report which found the company...