Committee to bring back Pakistanis’ assets parked in Dubai, SC told

A committee formed for the purpose will probe properties in Dubai

The FIA has significant details about assets owned by Pakistanis in Dubai-Photo: Reuters

ISLAMABAD: The committee tasked to investigate assets owned by Pakistanis abroad has decided to initiate probe from properties held in Dubai.

The committee, headed by Governor State Bank, submitted the Terms of Reference related to the inquiry in the Supreme Court, which is hearing multiple cases related to money laundering and foreign assets held by Pakistanis.

A joint taskforce, comprising FIA, NAB and FRB officials, will be formed for the purpose and will have the authority to approach state institutions and departments as well as foreign governments for investigation.

According to the committee’s report, the FIA has significant details about the properties held by Pakistanis in Dubai and the committee aims to work on bringing back those assets.

The committee will also review details available with FBR about properties held in the UK and will summon individuals owning the properties in these regions.

The report stated that those who admit to owning the properties would be asked to produce money trail while an inquiry would be sought against those who refuse to admit the same.

Foreign assets can be frozen if money trail is not furnished, the report further stated.

The committee will present its report every month in the apex court.