National Accountability Bureau (NAB) Chairman Lt Gen (retd) Nazir Ahmed announced on Wednesday that sweeping real estate reforms will be introduced within the next two months, fundamentally reshaping regulatory practices in the sector. The reforms, which include the abolition of the long-standing file system, are set to be presented to the federal cabinet for final approval.
New Developer-Centric Model
Speaking during an informal media briefing, Lt Gen (retd) Ahmed outlined that the proposed changes would shift full accountability onto real estate developers. Under the new framework, developers will bear complete responsibility for projects, marking a significant departure from current practices where multiple intermediaries are involved.
The file system, a traditional method of property transaction documentation widely used across Pakistan, will be eliminated entirely once the reforms are implemented, the NAB chief confirmed.
Ongoing Cases and Institutional Changes
Addressing questions about ongoing investigations, Lt Gen (retd) Ahmed stated that cases against members of parliament remain active. However, he noted that the bureau has issuing press releases regarding such matters. He further revealed that NAB has referred multiple cases to the Federal Investigation Agency (FIA) and provincial anti-corruption departments.
“The current NAB does not agree with what NAB did in the past,” the chairman remarked, signaling a shift in the bureau’s operational philosophy. He emphasized that suspects are entitled to the same respect as investigators.
IMF Report Dismissed as Baseless
Lt Gen (retd) Ahmed also took aim at the International Monetary Fund’s recent diagnostic report on Pakistan, calling it “completely baseless.” He argued that the IMF would never issue a “clean chit” to any country, dismissing the report’s findings. Last year, the IMF’s and Corruption Diagnostic Assessment warned that persistent corruption and weak institutions continue to hamper Pakistan’s economic development, even as the country stabilizes under an Extended Fund Facility.
Transparency International Under Scrutiny
In a separate critique, the NAB chairman questioned the credibility of Transparency International, challenging the organization’s funding sources and survey methodology. “How can a survey of the entire country be conducted with 800 people?” he asked, casting doubt on the accuracy of the watchdog’s corruption indices.
Record Recoveries Highlighted
Defending the bureau’s performance, Lt Gen (retd) Ahmed noted that NAB’s recoveries over the past three months are unprecedented globally. He clarified that all recovered funds are deposited directly into the federal consolidated fund, with the bureau retaining none.
