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Pakistan

Hidden Owner Of Bilawal House Lahore

ISLAMABAD – The ownership of luxurious Bilawal House in Bahria Town Lahore has confused tax officials as there is no document available on the Federal Board of Revenue’s (FBR) record to identify that who really owns the property.

FBR’s Intelligence and Investigation (I&I) directorate of Inland Revenue told media that the property in question was purchased by the Zardari Group Pvt Ltd, a firm that has been registered with the Securities and Exchange Commission of Pakistan (SECP).

The company has made three payments to Bahria Town, amounting to Rs.170 million, against a total value of Rs480.5 million. According to the the record of Bahria Town, payments of Rs310.5 million are still outstanding.

The Intelligence and Investigation directorate first got entangled in this problem while it was investigating the assets of individuals with a high net worth.


According to investigators, the Zardari Group’s profile has no details about any business activities or investment and the only changes appearing in the profile relate to the names of the company’s directors.

Currently, Bilawal Bhutto Zardari and Faryal Talpur are the directors of the company, while Asif Ali Zardari, his daughters Bakhtawar and Aseefa and his mother Bilquis Sultana are shareholders in the company.

Registered as a construction firm in 1981, the company’s paid-up capital amounts to a mere Rs.1 million. Despite having a National Tax Number (NTN), the company has not filed tax returns since its inception and only paid a nominal amount of tax in February 2015.

 

 

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