The National Accountability Bureau (NAB) has announced major reforms in Pakistan’s real estate sector, including ending the file system, banning cash property deals, and introducing barcode-based tracking for plots.
NAB Chairman Lt-Gen (retd) Nazir Ahmed, while announcing measures to end the file system in the real estate sector and prohibit cash buying and selling of properties, said that within the next four to five months, property files will no longer have any legal status.
Speaking at the Lahore Chamber of Commerce and Industry, the NAB chairman said that to ensure transparency in the real estate sector, each plot will be assigned a unique barcode-based number, and comprehensive reforms including a one-window operation system are being introduced.
Nazir Ahmed said that in the past, NAB faced allegations of political engineering; however, the institution is now making decisions strictly based on evidence and law. He added that effective steps are being taken to make the accountability process more transparent and impartial.
The NAB chairman also criticized Transparency International, calling it an IMF tool, and said that an organization with its own questionable transparency cannot provide credible reports on transparency.
He said that in the Kohistan corruption case, Rs 27 billion out of Rs 38 billion has been recovered, while NAB’s total recoveries last year amounted to Rs 5.4 trillion.
Lahore Chamber of Commerce President Faheem-ur-Rehman Sehgal said that the rule of law and eradication of corruption are essential to restoring investor confidence. He emphasized that the accountability system should prevent corruption but not create unnecessary obstacles for business activities.
