The Federal Board of Revenue (FBR) has asked real-estate agents to report suspicious transactions to the financial monitoring unit otherwise face penalties and imprisonment. This is an unrealistic approach to deal with the irregularities in the real-estate sector. The fact is that whenever a transaction takes place in any area or city in Pakistan, several types of taxes are being paid to the authorities through proper banking channels.
The record of these transactions is automatically reported to the authorities concerned. Why are real-estate agents being pressurised to keep an eye on these transactions? The prime minister is requested to look into the matter and order for the reversal of these instructions.
Mumraiz Khan
Karachi