The Benami Adjudicating Authority (BAA), part of the Federal Board of Revenue (FBR), has been inactive for the past 11 months, with appointments to key positions stalled due to unexplained reasons, The News reported, citing sources.Â
The Benami Law, which was introduced in 2017 to target illicit wealth and assets held under fake names, had seen significant activity from the BAA between July 2019 and December 2020. However, after that period, the authority has failed to function effectively.
Despite the Prime Minister’s approval for appointments, the necessary summary for appointing three members to the BAA has failed to make it to the federal cabinet agenda over the past 11 months. Officials indicated that summaries moved for these appointments were either reverted or abandoned, with no clear explanation given for the delays.
The stalled operations of the BAA serve as a reminder of the challenges in addressing this wealth imbalance and the systemic issues preventing effective enforcement of the Benami Law.
According to the report, the FBR’s spokesperson explained that the appointment process had taken longer than expected as there was a strong focus on ensuring the right fit for the role, emphasising the significance of the Anti-Benami Initiative (ABI).Â
The spokesperson reassured that efforts are underway to complete the appointments with due care.
The concentration of wealth among Pakistan’s elite is evident, with the top 1% of the population controlling 22% of the country’s total wealth. Despite the passage of the Benami Law, many elite individuals have continued to hide their assets under the names of others, evading scrutiny.
The wealth disparity in Pakistan is stark, with the bottom 50% of the population holding just 4% of the total wealth, while around 40% of the population lives below the poverty line.
