The committee constituted to probe the overseas assets of Pakistanis has decided to start the investigation from Pakistanis’ assets in Dubai.
The Supreme Court (SC) is currently hearing multiple cases related to money laundering and foreign assets owned by Pakistanis and in a relevant inquiry, the committee, headed by the State Bank of Pakistan (SBP) governor, submitted the Terms of Reference.
For the purpose, a joint task force will be formed which will comprise officials of the Federal Investigation Agency (FIA), National Accountability Bureau (NAB) and the Federal Board of Revenue (FBR). The task force will have the authority to approach state institutions and departments as well as foreign governments for investigation.
The committee, in its report, said that FIA has significant details about the properties Pakistanis own in Dubai and it aims to bring those assets back to the country.
The committee will also review details available with FBR about properties held in the UK and will summon individuals owning the properties in these regions.
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.
