Chairman of the National Accountability Bureau (NAB), Lieutenant General (Retd.) Nazir Ahmed has announced a comprehensive package of reforms for the real estate sector aimed at improving transparency, protecting investors, and enhancing the ease of doing business.
Addressing a meeting at the Lahore Chamber of Commerce and Industry, the NAB chairman said the proposed measures would target fraud, the file culture, and non-transparent transactions that have long affected the sector. He said future real estate projects would operate under a regulated system for plot ownership and property transfers.
He stated that all payments would be encouraged through formal banking channels, while cash transactions would be discouraged as part of efforts to improve transparency and documentation in the sector.
The chairman further said that housing schemes would not be allowed to sell more plots than the number actually available in a project. Each plot, he added, would have a proper and verifiable identity to ensure accountability and protect buyers from fraudulent practices.
Speaking on the occasion, Lahore Chamber of Commerce and Industry President Faheem ur Rehman Saigal said transparency, justice, and the rule of law are essential foundations of a strong economy.
He emphasized the need to further improve governance across public sector institutions to support sustainable economic growth and strengthen investor confidence.