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.
Swat, famously known as the "Switzerland of Pakistan," is a land of mesmerizing beauty. It is…
Millennials, often referred to as the “financially cautious generation,” are reshaping the investment landscape. Known…
Graanic, Pakistan's premier organic food brand, has officially launched its new restaurant at Mall of…
If you’re looking for a destination that combines breathtaking views, a peaceful ambiance, and unforgettable…
The real estate sector in Pakistan is undergoing significant transformations, and wealth management strategies are…
December 19, 2024— In a significant move, the federal government has announced an increase in…
Welcome to Graana Blog - Pakistan’s Smartest Property Portal!
For more than a decade our intention has been to revolutionise the real estate industry in Pakistan. The same belief drove the vision of our real estate team, Graana where quality beats quantity.
We have introduced an extremely transparent and purposeful portal where we will help you buy, rent or sell your property. A place where you can sit back relax and let us market your projects and listings. We believe we have set new standards for the future of real estate in Pakistan by providing the smartest property portal.
