895 notices issued to foreign property owners – Govt informs SC

The Federal government has informed the Supreme Court that the Federal Investigation Agency (FIA) issued notices to 895 individuals in the foreign property case.

Supreme Court informed 895 notices issued to foreign property owners
Supreme Court informed 895 notices issued to foreign property owners

How many affidavits are obtained?

642 affidavits have been obtained out of 895 notices dispatched inquiring about the foreign property.

Out of the submitted 642 affidavits, 185 are from Punjab, 390 from Sindh, 52 from Islamabad, 4 from Balochistan and 17 from Khyber Pakhtunkhwa.

Further if was informed that some individuals claim they disclosed their properties recently the amnesty scheme.

Some are under probe by the National Accountability Bureau (NAB) and some individuals have disowned the properties

Also Check: FIA Receives the list of 3550 Pakistanis with properties in Dubai

The attorney general sought two weeks from the court to initiate further proceedings to recover money from those who own illegal properties abroad.

The chief justice urged him to speed up the process for this case.

Supreme Court informed 895 notices issued to foreign property owners
Supreme Court informed 895 notices issued to foreign property owners

Supreme Court directs FIA to submit the report on 2,700 properties

Last month the Supreme Court directed FIA to present a report pertaining to the legality of 2,700 properties acquired by Pakistanis in the United Arab Emirates (UAE).

The hearing has been adjourned till October 25.

Conclusion:

The action against the illegal foreign property owners can be a huge benefit to the economy. The economy is going through a hard time and any kind of recovery will be a huge support.

The supreme court is likely to further proceeds and orders to bring back the money. The country has suffered a lot because of the money laundering. The action against illegal foreign property owners is a huge leap towards fixing the economy.

According to different reports; some 200 billion+ dollars worth of money and assets are stashed abroad. 

So now you can imagine how important this step is going to play. How effectively this kind of money can fix the economy.

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