Benami accounts

The prime minister is visiting friendly countries and asking for loan to save the country from the financial crisis. What the PTI-led government has failed to do so far is to launch a crackdown on hundreds of benami accounts that have been opened up for the sole purpose of hiding ill-gotten wealth. The government has to take effective measures to investigate all transactions made to and from these benami bank accounts. It doesn’t mean that all benami accounts are being used for illegal purposes. There can be a case where the money kept in such accounts is earned legally and is accounted for.

The authorities concerned need to take effective actions to find out any unusual transactions that have been carried out through benami accounts. People who are involved in such unlawful practices should be brought to book. The money recovered from such accounts should be deposited in national exchequer.

Mohammad Iqbal Khimani ( Karachi )