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FBR has found Benami Properties of Worth 62 Billion PKR

Islamabad: The Federal Board of Revenue’s (FBR) Benami Zone-I has filed 12 references involving PKR 2 billion worth of benami land — according to a news report.

As per the information available, 3,000 kanals of land located in the Chakri area near the Islamabad International Airport had been registered under the name of 12 persons. However, the tax authority had managed to trace the actual owner of the land, named Tausef Ahmad. As the investigation in the case proceeded, eventually all 12 of the original group of alleged titleholders denied owning the property.

Reportedly, over the past year, the FBR has managed to unearth various benami properties worth PKR 62.36 billion in its crackdown against undeclared assets.

According to sources, after the passage of new laws and rules on benami properties, the authorities have confiscated 146 benami properties worth PKR 31.22 billion. 101 of these benami properties were seized in the Karachi zone, 31 in Islamabad, and 14 in Lahore. In addition, the FBR has also identified as many as 752 beneficiaries of these properties.

Moreover, a total of 63 cases involving benami properties have been finalised by the FBR, with 34 references being filed in this regard.

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