Pakistanis nationals own assets worth $150 billion in Dubai - Supreme Court told

Pakistanis nationals own assets worth $150 billion in Dubai - Supreme Court  told

ISLAMABAD (Online) The Supreme Court of Pakistan (SCP) was told on Monday that overseas Pakistanis own about $110 billion worth of properties in Dubai alone.  

The revelation came in a report submitted in the top court by the Federal Investigation Agency (FIA).  The report was submitted in the apex court in connection with a Supreme Court case on Pakistani nationals’ properties and bank accounts abroad.

The report discloses that the $110 billion properties were owned by 2,750 Pakistanis living in Dubai. The report, however, adds that overseas Pakistanis across the world own Rs150 billion properties and assets.

According to the report, FIA needs record from the Land Department of Dubai. It is pertinent to mention here that the investigation agency is taking action against overseas Pakistanis who made properties through illegal means. The department has written 54 criminal cases so far.

However, due to missing details from the Land Department Dubai, investigation could not be started yet. The report states that the FIA got information through first sources about 662 Pakistanis who own properties in Dubai whereas about 1,468 Pakistanis through cyber intelligence.

Moreover, the United Kingdom government has included Pakistan among three top money laundering countries. Russia and Naigeria are two others.

In the report, it has been requested to Governor State Bank to expand investigation jurisdiction up to foreign countries so that the looted money can be brought back to the national exchequer.

Meanwhile, the FIA also submitted a written reply in the foreign currency accounts case in the Supreme Court of Pakistan.