Web Desk: National Accountability Bureau (NAB) Chairman Lt. Gen. (Retd.) Nazir Ahmed on Tuesday announced sweeping reforms in Pakistan’s real estate sector, pledging greater transparency, stronger investor protection and improved ease of doing business.
Addressing a meeting at the Lahore Chamber of Commerce and Industry, Ahmed said the accountability watchdog would introduce comprehensive measures to curb fraud, eliminate the long-criticized “file culture” and ensure transparent property transactions.
Ahmed said future real estate projects would operate under a stricter regulatory framework, with plot sales and ownership transfers processed through an authorised regulator rather than informal channels.
He added that authorities would discourage cash transactions and require all payments to be made through formal banking channels in a bid to document financial flows and reduce malpractice.
Moreover, he said housing schemes would be barred from selling more plots than physically available, and each plot would carry a verified and traceable identity to prevent duplication and fraud.
“These steps will promote transparency and safeguard investors’ interests,” Ahmed told participants at the business forum.
The NAB chief said effective measures were being implemented to dismantle fraudulent practices and opaque dealings that have long plagued the property market.
He emphasised that reforms aim not only to tighten oversight but also to create a more predictable and secure environment for genuine investors and developers.
Meanwhile, Lahore Chamber President Faheemur Rehman Sehgal welcomed the reform agenda, saying transparency, justice and rule of law form the foundation of a strong economy.
He stressed the need to further strengthen governance across public institutions to build investor confidence and support sustainable growth.
As the government moves to reshape the real estate landscape, business leaders and investors will closely monitor how swiftly and effectively the proposed reforms are translated into action.
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