Pakistan, June 15 -- The Federal Board of Revenue's (FBR) Anti-Benami Initiative (ABI) has seized its first immovable properties under the Benami Transactions (Prohibition) Act, 2017, marking a milestone in Pakistan's fight against illicit wealth and tax evasion.

Two prime plots in Islamabad's Pakistan Employees Cooperative Housing Society (PECHS)-Plot 168-A (816 sq yards) and Plot 174-A (991 sq yards)-were confiscated after investigators found they were registered under a "benamidar" (front person) whose CNIC had allegedly been misused.

The owner disclaimed knowledge of the properties and was unregistered with the FBR. Subsequent to a thorough investigation, a reference was filed before the Benami Adjudicating Authority Bench-I Islamab...