PM orders to identify benami properties within one month

Benami Properties

Islamabad:                  Prime Minister Imran Khan has directed all deputy commissioners (DCs) and development authorities to identify and submit a list of all benami properties in their respective jurisdictions within a month to the Federal Board of Revenue (FBR), according to the notice issued by the PM office.

“The prime minister in a meeting held on August 20 on benami properties stressed upon the implementation of the Benami Act, 2019 in order to harvest its true potential in the national and global contexts,” read the notice, which was issued to all provincial chief secretaries.

“The deputy commissioners, being collectors and custodians of the land record have a key role in collection of property records,” added the notice.

The notice directed that all DCs and heads of development authorities are required to furnish a certificate that no benami properties, apart from the ones identified and listed, exist in their respective areas.

It further warns that if any benami property was discovered later on, the concerned DC or head of development authority will be subjected to legal proceedings under relevant provisions of Benami Act.

 

Benami Properties

It refers to the practice of holding property/assets in the name of one person for the benefit of another. It also entails concealing ownership of assets that are being acquired through illegal means and other fraudulent activities.

About Maham Tahir

Leave a Reply

Your email address will not be published. Required fields are marked *