The committee tasked to investigate assets owned by Pakistanis abroad has decided to initiate the probe from properties held in Dubai, a private TV channel reported on Saturday. The committee, headed by State Bank governor, submitted the terms of reference related to the inquiry in the Supreme Court, which is hearing multiple cases related to money laundering and assets held by Pakistanis abroad. A joint taskforce, comprising FIA, NAB and FRB officials, will be formed for the purpose and will have the authority to approach state institutions and departments as well as foreign governments for investigation. According to the committee’s report, the FIA has significant details about the properties held by Pakistanis in Dubai and the committee aims to work on bringing back those assets. The committee will also review details available with the FBR about properties held in the UK and will summon individuals owning the properties.
The report stated that those who admit to owning the properties would be asked to produce money trail while an inquiry would be sought against those who refuse to admit the same. Foreign assets can be frozen if money trail is not furnished, the report further stated.
The committee will present its report every month in the apex court.
Published in Daily Times, September 2nd 2018.
