Post Reply 
Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
$1.25 billion single largest Amnesty declaration in Pakistan
06-29-2018, 12:32 PM
Post: #1
$1.25 billion single largest Amnesty declaration in Pakistan

$1.25 billion single largest Amnesty declaration in Pakistan

Habibullah Khan has recently declared liquid assets of $1.25 billion outside of Pakistan in the single largest Amnesty declaration in the South Asian country.

He is the Founder and Chairman of Mega Conglomerate – Mega & Forbes Group of Companies (Mega Group – MFG), a diversified conglomerate with business holdings including the country’s largest container terminal, the largest shipping and logistics businesses in the country, third largest dairy producer, top tier cement manufacturing company, vertically integrated shipping company and most progressive real-estate developer responsible for the only L.E.E.D. certified commercial building in Pakistan.

Khan’s declaration comes on the heels of a tax amnesty scheme announced through an Ordinance on April 10, 2018. Federal Board of Revenue (FBR) Chairman Tariq Mahmood Pasha suggests businessmen who have kept their assets abroad or invested in real estate should legalise them through the amnesty scheme.

The last date of availing the scheme is June 30, 2018.

This scheme has blessings from all stakeholders of the state, as the country desperately needs foreign exchange. Official foreign currency reserves held by the State Bank of Pakistan (SBP) hover around the $10-billion mark, and sufficient to finance barely two months of imports.

Just last Friday, the FBR spokesman hoped that Pakistan attracts up to $4 billion through the amnesty scheme. But if the scheme is derailed, it could further complicate the government’s external sector problems.

Khan, the Karachi-based businessman, was recently dubbed as “the Howard Hughes of Pakistan” by Profit Today.

Through over three decades of active patronage and participation in social and environmental welfare, he has also become strongly associated with various charitable causes; recently donating a building for visiting professors at the Institute of Business Administration in Karachi.

“I’m the largest private equity player in this market,” he told the publication in April, adding that three of his companies are among top 30 taxpayers.

His father, Asadullah Khan was Pakistan’s first gas engineer who helped create what today is Sui Gas.

Khan studied at Karachi Grammar School but moved to boarding school in England when his father left the country in 1972. After completing school, he went to Imperial College in London and was part of the first batch of computer engineers that graduated in 1979.

His next stop was the University of California in San Diego where he worked on the Columbia satellite as a computer engineer. Then he went to Berkeley to study management science and industrial engineering before returning to Pakistan.

Khan started off in software and then moved into first textile and then shipping in 1985. In 2000, his company had bought Qasim International Container Terminal (QICT).

He’s actively working to acquire a financial institution besides being a huge player in the energy sector, having recently acquired a significant stake in Hub Power (Hubco) from Dawood Hercules and become its chairman.


Your old friend
*Choudry Mujahid Yasin ( CMY )* of
Lahore Real Estate ®
MB-46 DHA Lahore Phase 6 Main Boulevard.
You can reach me at +14086924710 on whatsapp or please use +16308024186 & +923224929992 for SMS & Regular phone calls. I am currently in USA
Please subscribe my this YouTube channel asap

Find all posts by this user
Quote this message in a reply
Post Reply 

Possibly Related Threads...
Thread: Author Replies: Views: Last Post
  PM’s Construction Amnesty Scheme Likely to Get an Extension LRE-Azan 0 139 12-26-2020 04:49 PM
Last Post: LRE-Azan
  PTI Government Quietly offers tax amnesty to realty sector LRE-Azan 0 725 06-22-2019 01:18 PM
Last Post: LRE-Azan
  Tax Amnesty Scheme 2019 Complete Detail Latest News By LRE LRE-Azan 0 879 05-15-2019 07:32 PM
Last Post: LRE-Azan
  New Pakistan Tax Amnesty Scheme in May 2019 Non Filers Be Allowed To Buy Any Amount LRE-Azan 0 676 04-03-2019 07:23 PM
Last Post: LRE-Azan
  Gwadar Airport will handle the Largest Aircraft LRE-Azan 0 665 12-31-2018 06:01 PM
Last Post: LRE-Azan
  Amnesty Scheme 2018 New Legislation Worldwide to result in Confiscation of foreign LRE-Azan 0 754 06-27-2018 07:29 PM
Last Post: LRE-Azan
  Reviews about Tax Amnesty Scheme 2018 by LCCI President Malik Tahir Javaid LRE-Azan 0 762 06-22-2018 04:36 PM
Last Post: LRE-Azan
  Very Important Tax Amnesty Scheme Detailed Info Mansoor Ali Khan 9 June 2018 LRE-Azan 0 996 06-11-2018 04:32 PM
Last Post: LRE-Azan
  RECA demanded The Government to Announce a General Amnesty Scheme for Investors LRE-Azan 0 1,171 01-20-2018 12:20 PM
Last Post: LRE-Azan
  China invest $62 billion in CPEC Pakistan LRE-Azan 0 1,303 11-09-2017 07:14 PM
Last Post: LRE-Azan
  Pakistanis are the third largest investor in the Real Estate market of Dubai LRE-Azan 0 1,176 11-07-2017 05:07 PM
Last Post: LRE-Azan
  Explanation of new Pakistan property amnesty scheme video uploaded Salman 0 1,513 12-02-2016 11:50 AM
Last Post: Salman
  *Market Alert: Pakistan Property Amnesty Scheme Got Passed F Salman 0 1,512 12-01-2016 12:04 PM
Last Post: Salman
  Inauguration of World’s Third Largest Mosque in Bahria Town Karachi Salman 0 1,743 01-02-2015 05:43 PM
Last Post: Salman
  Pakistan, China sign 19 agreements, MoUs on energy, infrastructure of 42 Billion Salman 0 1,521 11-10-2014 01:54 PM
Last Post: Salman
  Zardari inaugurated worlds 7th largest mosque located in Bahria Town Lahore Salman 0 1,863 10-15-2014 01:59 PM
Last Post: Salman
  Seventh largest mosque opened in Lahore Bahria Town Salman 0 1,512 10-10-2014 12:45 PM
Last Post: Salman
  Qainchi Single Free Junction Opened For General Pubic By CM Salman 0 1,490 08-13-2014 01:24 PM
Last Post: Salman

Forum Jump:

User(s) browsing this thread: 1 Guest(s)