Islamabad: The Benami Transaction (Prohibition) Act 2016 will take effect across the country after Eid-Ul-Adha, Special Assistant to Prime Minister on Revenue Haroon Akhtar Khan told reporters. Khan also revealed that the bill has been approved by the Finance Ministry’s standing committee.
Reportedly, the Prohibition of Benami Transaction Law empowers the government to confiscate immovable property with no ownership and auction it. Furthermore, the offender can also be sentenced to imprisonment for up to 7 years.
