Zardari, Sharif, military generals: Dubai leaks expose billions in property owned by Pakistan’s elite

May15,2024



New Delhi: The dubai property leak A large number of prominent people have been exposed Pakistanis who own high-end Property in Dubai. The leaked data is part of OCCRP's Dubai Unlocked project, which reveals details of individuals from various sectors such as politics, military, banking and bureaucracy. The leak that sent shockwaves PakistanThis includes more than 23,000 properties belonging to Pakistani nationals, as detailed in “Dubai Unlocked”. Investigation Powered by global media outlets.
The investigation, conducted by the Center for Advanced Defense Studies (C4ADS) and shared with global media outlets, sheds light on hundreds of thousands of properties in Dubai, focusing on ownership details.
President Asif Ali Zardari's son Hussain among notable Pakistanis listed in asset leaks Nawaz SharifInterior Minister Mohsin Naqvi's wife, Sharjeel Memon, Senator Faisal Vawda, and several Sindh MPs and Balochistan Meetings. This list also includes late generals Pervez MusharrafFormer Prime Minister Shaukat Aziz, a retired general, a police chief, an ambassador and a scientist all own property either directly or through their spouses and children.
Additionally, the leak highlights discrepancies in asset declarations, such as the fact that Interior Minister Mohsin Naqvi's wife owns a villa in Dubai, which was not disclosed in her Senate election nomination papers. The investigation also revealed the involvement of individuals like Altaf Khanani Network, sanctioned for money laundering, and Hamid Mukhtar Shah, a doctor involved in criminal activities, as property owners in Dubai.
The data reveals properties ranging from studio apartments in premium locations such as Dubai Marina, Emirates Hills and Palm Jumeirah to six-bedroom lavish villas owned by Pakistan's elite, including political, military and business figures.
The leaked data provides information on the offshore real estate holdings of Pakistanis, with over 23,000 properties listed as belonging to Pakistani nationals as of spring 2022. The data obtained by C4ADS and shared with media outlets around the world does not inherently indicate financial crimes. But offers a detailed snapshot of Pakistani investment in Dubai properties during a specific period.
Pakistan's Federal Board of Revenue (FBR) considers this revelation as an important step towards dealing with tax evasion, “If we have the data that you are talking about, as well as residence status information, we will ensure that people who are eligible to pay tax in Pakistan on rental income or capital value, They are doing so,” Malik Amjad Zubair Tiwana, Chairman FBR told Dawn. Despite efforts to regulate and recover undeclared assets, responses from Dubai have been limited due to lack of geopolitical leverage and political obstruction.
The investigation underlines the challenges Pakistan faces in taxing undeclared assets, as Dubai authorities are reluctant to share information about Pakistani nationals holding assets in the emirate. The leaked data, resulting from multiple leaks and extensive verification by journalists, reveals a complex web of asset ownership linked to Pakistan's political, media, military and business elite.



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