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32 Benami Companies to be confiscated by the Government

Real Estate News
17 Jul 2019
32 Benami Companies to be confiscated by the Government

32 Benami Companies to be confiscated by the Government

Islamabad: Shahzad Akbar; the Special Assistant to Prime Minister of Pakistan Imran Khan has told the news sources that the government will be taking legal action against 32 benami companies in the near future.

The companies are allegedly belonging to Asif Ali Zardari; the Co-Chairman of PPP (Pakistan Peoples Party). Akbar further explained that the action against the Benami properties will be taken as per the law of the country and all the money that would be recovered by such benami companies, as well as properties, will be directly deposited to the national exchequer.

The Special Assistant to PM has confirmed that if Asif Ali Zardari will fail in producing the documents to prove the legality of all the properties in a timeframe of 60 days, all the allegedBenami properties owned by him will be automatically confiscated, as per the law of Pakistan. During the press conference, he cleared that the government will continue their action against every case of money laundering, benami companies, and trades as well as Benami properties.

The Special Assistant Shahzad Akbar informed that the Benami companies include construction companies, sugar mills, trading companies, consulting firms, cement factory, automobile manufacturing companies, gas companies, holding companies, etc. Among the 32 benami companies, following companies are included namely; Seracom Stock and Capital (Pvt) Ltd, Seracom Builders and Devs (Pvt) Ltd, New Thatta Sugar Mills (Pvt) Ltd, Bandhi Sugar Mills Ltd, Rubicon Builders and Devs (Pvt) Ltd, Sky Pak (Pvt) Ltd, Al-Miftah (Pvt) Ltd, Pak Track (Pvt) Ltd, Paramount Builders and Devs (Pvt) Ltd, Alfa Zulu
Company (Pvt) Ltd, Parthenon (Pvt) Ltd, Pak Ethanol (Pvt) Ltd and Vanguard Sugar Mills (Pvt) Ltd.

Among the list, the following properties are also included namely, Orient Automotive Industries (Pvt) Ltd, Abaseen Environment Management Company, Omni Welfare Foundation and Belpaktractors (Pvt) Ltd, Diamond Builders and Devs (Pvt) Ltd, Sindhri Sugar Mills (Pvt) Ltd, Triton LPG (Pvt) Ltd, Princeton Builders and Devs (Pvt) Ltd, Benazirabad Facilities (Pvt) Ltd, Quality Control (Pvt) Ltd, Wahaj Wind Energy, Sujawal Agro Farms (Pvt) Ltd, Malir Warehouse, Bandhi Powergen Company (Pvt) Ltd and Karachi Gas Company (Pvt) Ltd. It is also confirmed that there are several Benami plots in posh areas of Karachi that too are required to be raided.

During the press conference, it is also announced that soon the properties owned by sons and sons-in-law of the Sharif family will also be confiscated. It is only for those properties that are not registered.

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