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PM gives deputy commissioners a month to identify benami properties

August 24, 2019

Deputy commissioners across Pakistan have been given a month to identify all benami properties in their districts. 

PM Office sent on Friday a letter to all provincial chief secretaries with these instructions.

The DCs have been given till September 30 to submit a detailed report on people with benami properties to the FBR chairperson and prime minister.

The letter said that an investigation should be launched against those who fail to submit their reports.

A benami transaction is when a property is held by one person while the consideration for it has been provided or paid for by another person. It includes transactions that are carried out under fictitious names or when the person providing the consideration is not traceable.

Related: FBR kicks off action against individuals with benami properties

An individual with a benami asset can be fined and sentenced to prison for up to seven years under Pakistani law. The relevant commissioners and deputy commissioners also have the authority to seize such properties.

On July 5, the premier said that the people who help the government identify benami assets will get 10% of those assets. 

The federal government has taken a strict stance towards all benami accounts and properties. On July 3, the Federal Board of Revenue sprang into action against individuals with benami assets.

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