NAB chief says file system will end under new real estate reforms

ISLAMABAD: National Accountability Bureau (NAB) Chairman Lt Gen (retd) Nazir Ahmed said on Wednesday that a new set of real estate reforms would be introduced within two months, with the proposed changes aimed at reshaping the sector’s regulatory framework.

Speaking during an informal media briefing, the NAB chief said the reforms would be placed before the federal cabinet for approval. He said the existing file system would be abolished once the new framework is implemented.

According to Lt Gen (retd) Ahmed, the proposed changes would place full responsibility on real estate developers.

He also said cases involving members of parliament were still under process, but added that the bureau no longer issued press releases regarding such matters.

The NAB chairman said the bureau had sent several cases to the Federal Investigation Agency (FIA) and anti-corruption departments. He also stressed that suspects should be treated with the same respect as investigators.

During the briefing, Lt Gen (retd) Ahmed also took issue with the International Monetary Fund’s diagnostic report on Pakistan, calling it completely baseless. He said the IMF would never grant a clean chit to any country.

Last year, the IMF’s Governance and Corruption Diagnostic Assessment warned that continuing corruption and weak institutions were still hurting Pakistan’s economic development, even as the country stabilised under an Extended Fund Facility.

Questions over corruption surveys

The NAB chief also questioned the credibility of Transparency International and asked how the organisation was funded and what methodology it used for its surveys.

Referring to the scope of its polling, he said, How can a survey of the entire country be conducted with 800 people?

Highlighting the bureau’s recent performance, Lt Gen (retd) Ahmed said NAB’s recoveries during the last three months were unprecedented at the global level.

He further clarified that all money recovered by the bureau was deposited into the federal consolidated fund and that NAB retained none of those funds.

The remarks came as the bureau outlined its position on accountability, ongoing investigations and the direction of proposed reforms in the real estate sector. The chairman’s comments also touched on the bureau’s current approach compared to its past practices, as well as its view on international assessments related to governance and corruption in Pakistan.

His statement on the real estate sector signals that the federal cabinet will be asked to consider a reform package that, if approved, would remove the file system and shift responsibility to developers under a revised regulatory arrangement.