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FIA traces 2700 overseas properties of Pakistanis

FIA traces 2700 overseas properties of Pakistanis
September 19, 2018
ISLAMABAD (92 News) – Federal Investigation Agency (FIA) Director General Bashir Memon informed the Supreme Court that 2700 overseas properties owned by Pakistanis have been traced in the probe. A three-member bench headed by Chief Justice of Pakistan Mian Saqib Nisar on Wednesday heard a suo motu notice of Pakistanis’ undeclared foreign bank accounts. During the hearing, Attorney General (AG) Khalid Javed presented a governmental report in the court. The director general revealed that overseas properties of 2700 owned by the Pakistanis revealed in the probe of assets owned by Pakistani nationals in foreign countries case. In the report, it said that Pakistanis have more than 1000 billion only in Dubai. During the hearing, the chief justice expressed his displeasure at the failure of authorities to stop the hundi-hawala business. "The markets are full of smuggled goods. Why have we been unable to stop smuggling?" Justice Nisar asked the attorney general. CJ Nisar asked that the documents are full of information regarding the investigation but has any dollar brought back in Pakistan. The Supreme Court directed the FIA to obtain affidavits from the owners of 2700 properties within 15 days. The attorney general informed the court that a man arrested in the United Kingdom had transferred 250 million dollars through Dubai to the country. He further noted that the agreement with the UK will help move forward to crack down on the illegal transfer of money. After DG FIA Memon requested the apex court to grant a month's time for further operations, the court gave 15 days to the agency to proceed with its crackdown on the illegal transfer of money out of Pakistan. The Supreme Court also ordered the authorities to submit a report regarding the progress on curbing money laundering and bringing illegally transferred money back to Pakistan.