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Friday Aug 23 2019

PM Imran orders nationwide crackdown against benami property holders


ISLAMABAD: Prime Minister Imran has ordered authorities to launch a nationwide crackdown against holders of undeclared benami properties.

In a letter issued from his office on Friday, Prime Minister Imran Khan directed all deputy commissioners and development authorities in the country to identify benami properties in their respective areas and submit reports within one month.

According to the letter, all officers have been directed to submit their reports to the Federal Board of Revenue (FBR) by September 30, while also submitting a copy of the report to the Prime Minister's Office.

Earlier this month, the federal government constituted a six-member committee to function on the pattern of a joint investigating team (JIT) and collect data regarding benami assets.

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), and would be headed by FBR's National Coordinator Nausheen Javed Amjad.

The purpose of the committee is to expedite action against benami assets and assist relevant authorities to improve their performance.