Four more anti-benami zones set up to trace undeclared properties

ISLAMABAD: The Federal Board of Revenue (FBR) has set up four more anti-benami zones each in Peshawar, Faisalabad, Multan and Hyderabad.

According to a notification issued by the revenue collecting agency, the new anti-benami zones will function under the Directorate General of Anti-Benami Initiative, Islamabad.

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These zones will trace undeclared properties in these cities. Such zones are already working in Islamabad, Karachi and Lahore.

Last year, the Federal Board of Revenue (FBR) unearthed more than Rs62.36 billion worth of benami properties during its crackdowns on undeclared assets.

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The Omni Group, owned by Anwar Majeed, an aide of former president and PPP co-chairman Asif Ali Zardari, owned most of the benami properties, whose value was estimated at more than Rs14.86 billion. As many as 146 benami properties worth Rs31.22 billion have been confiscated as of Feb last year by the tax authorities.