Pakistanis selling properties on throwaway prices in ME city

[Bilal Raza]

KARACHI: Around Rs20 billion worth of properties owned by Pakistanis have been sold in a city of a Middle East country since June 2018.

The property owners of Pakistan in the city have started selling their properties with minimal prices as the operation against allegedly illegal money has beefed up in the country. More than 500 wealthy Pakistanis have put on their super luxurious properties on very cheap prices and around 1,000 villas, penthouses, apartments have already been handed over for throwaway prices, according to sources related to real estate industry in the city.

The properties which are being bargained off are in posh areas of the city. It is learnt that some Pakistani political leaders, relatives of property business tycoons, former bureaucrats have succeeded to dispose of their properties there.

Pakistan diplomatic sources also confirmed that the wealthy Pakistanis have been selling their properties in the city very hastily. It is learnt that majority of them did not disclose these properties in their annual returns and were said to be moving their assets out of the country to avoid getting caught in the event of a serious crackdown on this unaccounted-for money. The process of vending properties has shown upward trend after the revelation that the country's authorities shared details of property owners with Pakistan.

The Economic Crime Wing of the Federal Investigation Agency (FIA) had requested the Ministry of Finance of that country for the exchange of information about rich Pakistanis in November 2017 through Pakistan diplomatic channels. Pakistanis’ investment in real estate sector in the city is also showing downward trend in first six months of current year 2018.

Source

 

[Raaz]

In this way , they could not hide or save their ill-gotten money .
because FIA will after their buying price and inquire from where they got it and will be fined on that capital ....

ہمارے پینڈو مجرم اپنے مجرمانہ دماغ سے ہی سوچتے ہیں حکومتی دماغ سے نہی سوچتے

 

[PappuChikna]

bet they are moving all the money to other countries.

I'd say they are probably moving their money where they have legal resident. it could be australia, malaysia, canada. Whichever countries have been allowing immigration recently.

They are moving out of UAE because their laws changed and they now disclose people who buy such properties.

 

[aazad.mubassir]

It's too late. UAE and Saudi govt already provided all the Pakistani property and Iqama holders details to our govt. FBR and NAB are going to issue notices to them pretty soon.

 

[thinking]

Thier names already in watch list..They can't run away any where..sale and purchase deal documented...UAE have all information..Where they will go..this is also tracked..no run away dear corrupt peoples... instead they should offer giving 60% back to country and keep alive..

 

[tasbee00]

Chalo aacha duno benefit kartha ha - buyer aur seller - ha ha

 

[aliahmad297622]

Humariii goverment abhii paper work kar rahii haii hahahahah

 

[Shazi ji]

In this way , they could not hide or save their ill-gotten money .
because FIA will after their buying price and inquire from where they got it and will be fined on that capital ....

ہمارے پینڈو مجرم اپنے مجرمانہ دماغ سے ہی سوچتے ہیں حکومتی دماغ سے نہی سوچتے

Are we living in dream world ,,, this will happen that will happen
NOTHING WILL HAPPEN ,,, people confirmed had illegal money roaming free and u think they going after new ones ,,,,
Please stop this dream world that new Govt will do this and that NOTHING AT ALL SO FAR

 

[aneeskhan]

Are we living in dream world ,,, this will happen that will happen
NOTHING WILL HAPPEN ,,, people confirmed had illegal money roaming free and u think they going after new ones ,,,,
Please stop this dream world that new Govt will do this and that NOTHING AT ALL SO FAR

On this forum right from Kanra Ch, Zanani, Zardari, Gilani, Nawaz Sharif , Saqib Nisar Gen Bharkoo lot of rumours Mongering done as that is the appetite of all members of this forum.
End results 000000000/000000000000=0000000000000
Phir Nayi Kahani ney Saath yeah Qaum Zinda rehti hai.

 

[Raaz]

Are we living in dream world ,,, this will happen that will happen
NOTHING WILL HAPPEN ,,, people confirmed had illegal money roaming free and u think they going after new ones ,,,,
Please stop this dream world that new Govt will do this and that NOTHING AT ALL SO FAR

Tell this the those who r selling their properties....not me .
I don't have any stakes in UAE;)

 

[Shazi ji]

Tell this the those who r selling their properties....not me .
I don't have any stakes in UAE;)

In a way u are right :shocked:

 

[Shazi ji]

On this forum right from Kanra Ch, Zanani, Zardari, Gilani, Nawaz Sharif , Saqib Nisar Gen Bharkoo lot of rumours Mongering done as that is the appetite of all members of this forum.
End results 000000000/000000000000=0000000000000
Phir Nayi Kahani ney Saath yeah Qaum Zinda rehti hai.

Very true and I must say very sensible statement

 

[Liberal 000]

Thier names already in watch list..They can't run away any where..sale and purchase deal documented...UAE have all information..Where they will go..this is also tracked..no run away dear corrupt peoples... instead they should offer giving 60% back to country and keep alive..

In this way , they could not hide or save their ill-gotten money .
because FIA will after their buying price and inquire from where they got it and will be fined on that capital ....

ہمارے پینڈو مجرم اپنے مجرمانہ دماغ سے ہی سوچتے ہیں حکومتی دماغ سے نہی سوچتے

It's too late. UAE and Saudi govt already provided all the Pakistani property and Iqama holders details to our govt. FBR and NAB are going to issue notices to them pretty soon.

They are not afraid of going to jail nor they are afraid of stigma . They know looters are respected in all political parties of Pakistan

They are only afraid of loosing that money. Probably shifting money to the lands where government cannot take it back from them and most probably shifting it to their sons and grandsons

 

[aneeskhan]

Talab mein Nayi Machliyan Aati hain tu thori Hal Chal Hoti hai.
Phir Sarey Mil Kar Wohi Dhandaa shrough Karti hain.
I think till December share rates will be decided and same story with climax and drop scene.

 

[Common_pakistani]

Facts is that nothing is going to happened....... if some one live in dream world is another story.
But in practical world all these will remain respectable citizens of Pakistan.
This only happened once one big judge / establishment person / diplomat / bureaucrat was not caught and punished.
The real threat these people who know how to do the white colour crimes.

 

[saadi038]

Their Arab fathers won’t let um do that because they are 1 bringing the property price down and 2 flow of money out of their country both are bad for their economy sooo they’ll let the Pakistani authorities know who’s selling what. Again khotay khanay walay dono taraf say phanssss gay.

 

[Common_pakistani]

On this forum right from Kanra Ch, Zanani, Zardari, Gilani, Nawaz Sharif , Saqib Nisar Gen Bharkoo lot of rumours Mongering done as that is the appetite of all members of this forum.
End results 000000000/000000000000=0000000000000
Phir Nayi Kahani ney Saath yeah Qaum Zinda rehti hai.

100% agreed

 

[surfer]

To those saying nothing will happened, things are already happening.

https://en.wikipedia.org/wiki/Common_Reporting_Standard

From 2018, UAE (and UK and other countries) have to report to Pakistan certain information about Pakistani nationals with foreign bank accounts.
This info has now started coming in and action is being taken on it.

One relative of mine in Pakistan has been asked to declare source of funds for a house they have in UK, and how much rental income they have earned on it. FBR had the correct address of the property, but they had overestimated the rent received. Luckily this relative had paid tax on rental income in the UK, and double taxation laws mean there is no further tax to pay in pakistan. Source of funds is also all through banking channels and easily explainable.

Another relative bought a flat in dubai, and they are being asked similar questions. Again source of funds was through banking channels and easily explainable, but this person has not paid tax on rent earned since flat was bought two or three years ago. They are now going to file a return and pay the tax owed.

And this is just members in my extended family. Every person with a property in any of the countries signed up to CRS, will be getting these demands. And selling the property and moving money around will not help, this is historic data which has to be a) explained and b) tax paid on any income earned from this

..and this is how tax net will be increased.

 

[Eyeaan]

Talab mein Nayi Machliyan Aati hain tu thori Hal Chal Hoti hai.
Phir Sarey Mil Kar Wohi Dhandaa shrough Karti hain.
I think till December share rates will be decided and same story with climax and drop scene.

کرپٹ پارٹیوں کے صلاح کار پچھلے ستر سال سے یہی بتا رہے ہیں ــ مقصد مایوسی پھیلانا ہے یا خود کو تسلی دینا ــیقینا ایسا نہیں ــ آپ کی رائے پوری ایمانداری اور یقیں سے ہی ہو گی ــ
ـ مگر کیا آپ کے رائے میں پاکستان میں اصلاح ممکن ہی نہیں، کیوں ؟ کیا اسلئے کہ پاکستانیوں کے خون کا رنگ نیلا ہے اور دوسروں کا سرخ ؟ـ
​

 

[thinking]

No need to spread na umeedi ..You all peoples misjudging IK Gov.. This is not old era of Mushi.Nawaz..Zardari.. Things changed ..