Karachi: The Federal Investigation Agency has prepared the final list of people who have illegally purchases property worth trillions of rupees in the United Arab Emirates (UAE), according to a news source. The list includes names of about one thousand people who did not share details of their overseas assets with the State Bank of Pakistan as specified by the Foreign Asset Declaration Act 1972. The FIA has also started to send notices to owners of undeclared overseas assets.
Reportedly, details on property assets purchased by Pakistanis in the UAE were procured from property dealers and developers active in the emirate and Pakistan back in 2015 during the FIA’s attempt to stop transfer of revenue.
The FIA has learnt that not even a single Pakistani has declared their overseas assets under the Foreign Asset Declaration Act 1972. Reportedly, there has been a delay of three years to conduct a thorough investigation in this regard, which, according to the orders issued by the Supreme Court of Pakistan, has now been resumed.