Chairman says new measures will regulate property transfers, curb cash dealings and improve investor protection.
LAHORE: The National Accountability Bureau (NAB) has announced sweeping reforms in the real estate sector aimed at improving transparency, protecting investors, and facilitating ease of doing business in Pakistan.
Speaking during a meeting with the business community at the Lahore Chamber of Commerce & Industry (LCCI), NAB Chairman Lt. Gen. (R) Nazir Ahmed Butt said illegal and non-transparent practices in housing and real estate projects will be eliminated under the new framework.
The meeting was attended by LCCI President Faheem Ur Rehman Saigol and NAB Lahore Director General Mirza Faran Baig, along with representatives of the business community.
Property transactions to be regulated
The NAB chairman stated that future real estate transactions will be strictly regulated through designated authorities. He said cash-based dealings will be discouraged, with all payments routed through formal banking channels to ensure traceability and accountability.
He further explained that housing schemes will no longer be allowed to sell more plots than officially approved, and each plot will carry a proper identification system to prevent fraud and duplication.
One-window facility for approvals
To reduce bureaucratic delays, NAB announced the introduction of a one-window facilitation system for approvals from relevant regulatory bodies. The initiative is aimed at simplifying processes for developers and investors while maintaining oversight and compliance.
According to the chairman, these measures will improve transparency, reduce fraudulent activity, and bring greater efficiency to the housing and construction sectors.
MoU signed with LCCI
During the visit, a Memorandum of Understanding (MoU) was signed between NAB and the Lahore Chamber of Commerce & Industry to strengthen institutional cooperation. NAB also inaugurated an Executive Facilitation Office at the LCCI premises and planted a tree during the ceremony.
Business community support
LCCI President Faheem Ur Rehman Saigol welcomed the initiative, stating that the business community supports transparency, accountability, and stronger institutional cooperation. He said improved governance and fair enforcement are essential for restoring investor confidence and boosting economic activity.
He added that law-abiding businesses must be protected from unnecessary hurdles, while accountability mechanisms should not obstruct legitimate commercial activity. Saigol also offered LCCI’s support in organising awareness sessions on NAB laws and procedures.
NAB commitment to facilitation
DG NAB Lahore Mirza Faran Baig emphasised the importance of coordination between regulatory bodies and the private sector. He said timely communication and institutional support are key to resolving business concerns effectively.
He reiterated NAB’s commitment to facilitating legitimate business activities while ensuring accountability under the law.
Large-scale recovery claims
The NAB chairman highlighted the bureau’s recovery performance, stating that around Rs880 billion has been recovered over the past two decades, while recoveries in the current period have reached Rs15.4 trillion. He also mentioned the recovery of 4.8 million acres of agricultural land.
He added that significant government land assets, including properties worth approximately Rs10 trillion in Karachi, have been identified, with recovery efforts ongoing in Punjab as well.
Future roadmap
Chairman Butt said NAB is prioritising systemic reforms over publicity, with a focus on making property transactions transparent and reducing reliance on cash dealings. He noted that gradual reforms will also aim to phase out the traditional file system and introduce a more structured transaction framework.
He said these reforms were developed in consultation with stakeholders, regulators, and developers to protect investors and reduce fraud risks in the real estate sector.
He concluded that stronger cooperation between NAB and LCCI will help improve the business environment, resolve industry concerns, and promote transparency and economic growth in Pakistan.
