Peshawar: As per the requirements communicated by the Financial Action Task Force (FATF), new regulations are being drafted to facilitate the purchase of real estate commodities and jewellery; for which a survey is currently underway to collect data on realtors and jewellers operating in the inner city, according to news sources.
A detailed survey is presently being carried out to document the details of the realtors and jeweller working on Yadgar Chowk. The provincial executive is concerned about an alarming increase in smuggling incidents involving Afghan traders who are obtaining forged computerised national identity cards (CNICs) and buying valuable assets; including commercial plazas and other property, in various parts of the city.
In this regard, the authorities have also contacted the Federal Board of Revenue (FBR) and the excise departments for information of registered relators and jewellers in the entire province.
After the details on all the traders are collected, a new effective policy will be implemented. The unregistered traders might even be looking at imprisonment.
Previously, the Federal Board of Revenue also proposed new regulations to bind realtors and jewellers to maintain records of beneficiaries of real estate and jewellery purchase to control money laundering.
Hazafa reveres the art of writing and has been turned into a property enthusiast by profession. Her daily survival kit includes; tea, coffee, keyboard and paperbacks.
