Pakistan sets up panel to crack down on benami assets
03-August-2019
1111The Pakistan government has set up a 6-member committee to crack down on the benami properties. The committee has been tasked to gather information on all illegal properties and send notices to their owners.
According to reports on Geo TV website, a Benami Information Processing Committee has been formed under the Benami Transactions Act 2017, which includes officers of grades 18 and 19 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 Federal Bureau of Revenue (FBR).
Members of the committee will work from their respective offices. The committee will expedite the action against benami assets and assist the authorities in the crackdown.
Benami properties are often obtained or registered in someone else's name to avoid taxes as well as other property related laws. IANS
NRI Medical Professional Pemmasani Chandra Sekhar: The Richest Candidate in Lok Sabha Elections 2024
AI-Enabled SaaS Platform Accacia Raises $6.5 Million in Funding
Natch Snacks and Recircles Team Up for Sustainable Waste Management
Hyderabad BJP Candidate Booked For Hurting Religious Sentiments
BJP Loses Veteran Malikayya Guttedar to Congress Ahead of Lok Sabha Elections