Tag: Benami properties

FBR identified as many as 752 beneficiaries of these properties

Federal Bureau of Revenue (FBR) on Friday launched crackdown against benami (undeclared) properties and vehicles in Punjab province.

The references will be registered against the persons, who will be found guilty in the investigation.

The properties were identified in Peshawar's areas of Hayatabad and University Town.

In line with the directions of Prime Minister Imran Khan, Punjab Minister for Law Raja Basharat on Thursday ordered all the commissioners and deputy commissioners to complete the identification of the benami properties by September 30.

Chief Secretary Sind h has summoned an important meeting of the Commissioners and the Deputy Commissioners today to form a strategy in this regard.

"The case related to Hudaibiya Mills is also coming under the category of benami [undisclosed] property."

FBR officials claimed that these people own palatial houses, precious properties and luxury vehicles. They travel foreign countries several times in a year.

Acting upon the directives of Prime Minister Imran Khan over asset declaration, the Federal Board of Revenue (FBR) has formally starting seizing undeclared (benami) properties in the country.

A high-powered authority has been constituted that was tasked to open thorough probe into benami accounts, whereas, FBR authorities have also established 'Benami Zones'.

Under the law, benami properties would be confiscated for a period of ninety days.