Pakistan has proceeded to apprehend big fishes in the country and recover their illegal wealth as FBR Benami (Zone III), has sought information of 33 companies’ directors and senior executives as they have allegedly acquired benami properties.
The FBR Benami Zone has send a list of (big fishes) 33 companies to the Registrar of Securities and Exchange Commission of Pakistan (SECP), to provide detail of directorship of the companies that have acquired benami properties.
Among 33 companies, six are builders and developers and only two constructions companies are registered with Association of Builders and Developers Pakistan (ABAD).
Majority of the companies are including power generation firms and builders and developers. The list sent to the SECP is comprising:
Al Miftah holding private limited, Sky Pak holding pvt limited, Raising Star pvt limited, Seracom Stock and Capital pvt limited, Parkview Stock and Capital pvt limited, Alpha Zulu company pvt limited, Plaza enterprise pvt limited, New Thatta Sugar Mills pvt limited, Pak Ethanol pvt limited, Bandhi Sugar Mills limited, Parthenon pvt limited, Pak Track pvt limited, Vanguard Sugar Mills pvt limited, Sindhri Sugar Mills pvt limited, Sujawal Agro Farms pvt limited, Benazirabad Facilities pvt limited, Orient Automotive Industries pvt limited, Karachi Gas Company pvt limited, Bandhi Powergen Company pvt limited, Triton LPG pvt limited, Abaseen Environment Management Company pvt limited, Quality control pvt limited, Wahaj Wind Energy pvt limited, Malir Warehouse pvt limited, Omni Welfare Foundation, Belpaktractors pvt limited,
In construction sector, Paramount builders and developers pvt limited, Rubicon Builders & developers, West Point Builders & developers pvt limited, Seracom builders & developers pvt limited, Princeton builders & developers pvt limited, Diamond builders & developers pvt limited, Marshal homes builders & developers pvt limited.
Federal Board of Revenue (FBR) has asked SECP to furnish the details of their directors including CNIC, and updated addresses with copy of form 29.
Informed source of SECP said that the commission is validating the details of companies request by FBR and during this week the information will be provided to the authority.
It is pertinent to mention here that Financial Action Task Force will review Pakistan’s progress on curbing AML/ CFT issues.