Eighteen housing society’s CEO Tarek Hamdy accused of Rs9 billion tax evasion

03:00 PM | 10 Nov, 2023
Eighteen housing society’s CEO Tarek Hamdy accused of Rs9 billion tax evasion
Source: A screengrab of Facebook video

RAWALPINDI – The Punjab Revenue Authority (PRA) has detected alleged massive tax evasion by Tarek Hamdy, Chief Executive Officer of a luxury housing project ‘Eighteen’.

A YouTuber Tahir Naseer made the revelation in a video, stating that owner of the high-end society, where several bureaucrats and other officials owned luxury farms houses and residences there, was involved in mega tax scandal.

He said a team of the PRA led by Additional Director Tauqeer Ahmed raided an office of the housing society and confiscated its record.

The YouTuber added that the officials during initial investigation have found a tax evasion of Rs9 billion by Hamdy in the project.

He further claimed that the PRA officials also received calls for several government officers for abandoning the investigation but he did not name the persons who had tried to influence the probe.

Daily Pakistan Global Web Desk


PKR exchange rate to US dollar, Euro, Pound, Dirham, and Riyal - 21 Feb 2024

Pakistani currency remains stable against US dollar and other currencies in the open market on February 21, 2024 (Wednesday).

US Dollar rate in Pakistan

In the open market, the US dollar was being quoted at 279.6 for buying and 282.4 for selling.

Euro comes down to 300 for buying and 303 for selling while British Pound rate stands at 350.5 for buying, and 354 for selling.

UAE Dirham AED hovers at 76.15 whereas the Saudi Riyal saw slight increase, with new rates at 74.35.

Today’s currency exchange rates in Pakistan - 21 Feb 2024

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 279.6 282.4
Euro EUR 300 303
UK Pound Sterling GBP 350.5 354
U.A.E Dirham AED 76.15 76.9
Saudi Riyal SAR 74.35 75.1
Australian Dollar AUD 181 183
Bahrain Dinar BHD 743.32 751.32
Canadian Dollar CAD 207 209
China Yuan CNY 38.89 39.29
Danish Krone DKK 40.38 40.78
Hong Kong Dollar HKD 35.74 36.09
Indian Rupee INR 3.37 3.48
Japanese Yen JPY 2.10 2.18
Kuwaiti Dinar KWD 902.41 911.41
Malaysian Ringgit MYR 58.6 59.2
New Zealand Dollar NZD 171.68 173.68
Norwegians Krone NOK 26.43 26.73
Omani Riyal OMR 725.96 733.96
Qatari Riyal QAR 76.76 77.46
Singapore Dollar SGD 207 209
Swedish Korona SEK 26.53 26.83
Swiss Franc CHF 316.9 319.4
Thai Bhat THB 7.93 8.08


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