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FIA submits list of 100 Pakistanis owning property in Dubai

09:56 AM | 24 Nov, 2017
FIA submits list of 100 Pakistanis owning property in Dubai
ISLAMABAD - The Federal Investigation Agency has submitted a report disclosing details of Pakistanis who possess properties in United Arab Emirates (UAE), to a sub-committee of the National Assembly.

Dr Shezra Mansab Ali on Thursday chaired a meeting of the sub-committee of the NA Standing Committee on Finance, comprising Pakistan Tehreek-e-Insaf's Asad Umar, Pakistan Muslim League-Nawaz's (PML-N) Isphanyar M. Bhandara, who did not attend the meeting. PML-N's Qaiser Ahmed Sheikh attended the meeting voluntarily.

However, the government agencies are unable to trace whether these Pakistanis used legal means to obtain the properties worth $8 billion in Dubai during the last four years.

The committee was informed that no government department, including FIA, Federal Board of Revenue (FBR) and State Bank of Pakistan (SBP) was empowered to get details regarding investment made by Pakistanis in other countries. The committee members were also told that the National Accountability Bureau (NAB) was department concerned which could investigate financial crimes cases with foreign countries.

The FIA team, led by its director Zaheer Ahmed, while presenting the list said that it was yet to be ascertained whether the investors are resident or non-resident Pakistanis.

The sub-committee was also informed that neither the SBP nor the Economic Coordination Committee (ECC) had granted permission to anyone for making investment in property of other countries.

FBR Chairman Tariq Pasha said that the department sent many queries to the UAE authorities seeking details of Pakistani investors during several past years, adding that the country did not give any response.

Asad Umar expressing dismay said that the UAE had responded to queries sent by the Panamagte Joint Investigation Team (JIT), adding, “Why they are reluctant to give details of ordinary Pakistanis?"

During the meetings, certain flaws in the anti-corruption law were also highlighted with a stress to rectify them.

The sub-committee is expected to ask the NA standing committee to get assistance of the NAB to probe the matter.

Later, the NA Standing Committee on Finance in a meeting decided that the matter will not be sent to the NAB.

According to Dawn news, the committee’s members, including Dr Nafisa Shah, demanded that such a decision should be taken after the standing committee had a chance to review the sub-committee’s report.

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Pakistani rupee exchange rate against US dollar, Euro, Pound and Riyal - 22 February 2024

Pakistani rupee remains stable against US dollar and other currencies in the open market on February 22, 2024 (Thursday)

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 300.2 for buying and 303.2 for selling while British Pound rate stands at 350.6 for buying, and 354.1 for selling.

UAE Dirham AED hovers at 76.2 whereas the Saudi Riyal saw slight increase, with new rates at 74.45.

Today’s currency exchange rates in Pakistan - 22 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 300.2 303.2
UK Pound Sterling GBP 350.6 354.1
U.A.E Dirham AED 76.2 76.95
Saudi Riyal SAR 74.45 75.2
Australian Dollar AUD 181.15 183.15
Bahrain Dinar BHD 743.32 751.32
Canadian Dollar CAD 207.15 209.15
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 207.1 209.1
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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